Here’s the only chart that matters from Yahoo’s fourth-quarter slides — the one showing a 53 percent increase in revenue and a 58 percent rise in gross profit at China’s Alibaba Group.

Yahoo’s core business: Not so much, with continued revenue declines in a fast-growing industry.

But — thanks be to Jerry Yang — Yahoo still owns 24 percent of Alibaba, which is set to go public later this year.

Here are the rest of the Yahoo charts and press releases and such to peruse, most of which paint a picture of a shrinking business:


This deck is an eye opener. The data is shockingly different than what our leaders present to us internally about the revenue picture.

Entire revenue picture is disheartening but two things are standing out 


EMEA region is <8% of total Yahoo revenue, the revenue is declining and margin is the lowest among 3 regions and it is declining very sharply. It is best to shut down EMEA and the complex operation with 15 different sites.

Slide (23):

APAC revenue is declining by more than 20% in a region that drives the fastest growth for most companies, which is a disaster. This is the worst performing region.

In our recent FYI, Marissa stressed that international growth will be key. It is time to bring about sweeping changes in the teams running this region. Henrique was only part of the problem but the real problem is those running sales in the regions.


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