Yahoo Inc.’s Chief Executive, Carol Bartz sympathized with shareholders at the web biggie's annual summit on Thursday, accepting that the firm's stock price has plunged.
However, Bartz promised to considerably enhance margins, close a key search association with Microsoft Corp. and carefully handle the firm's Asian investments in such a manner, which will add shareholder value in the upcoming time.
Bartz said in answer to a shareholder question regarding the stock's price, "We also think that at $14, $15, $16, Yahoo is too low".
Yahoo’s shares have dropped almost 10% in the last six months, whilst the Nasdaq Composite Index has dipped nearly 2% over the same period.
The shares that were close to $19 as recently as April, traded more than 2% lower on Thursday, at $14.83.
Bartz told shareholders that she intends to improve the corporation's operating margin as high as 24% from its present 6%, saying that 6% is not acceptable.
According to Bartz, cost savings will pull in part from Yahoo's search and marketing joint venture with Microsoft Corp.
"We'll let Google and Microsoft fight about the number of data centers and so forth", Bartz remarked, observing that Yahoo and Microsoft should now have a collective 30% portion of the U. S. search market.
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