In fact, I haven't heard a more impressive tech executive on an earnings call this year including Mark Zuckerberg, Sheryl Sandberg and Larry Page.
Maybe it's because I've gotten used to listening to Carol Bartz or Scott Thompson on these calls, but listening to Mayer was like manna from heaven. There was no confusing and vague language. There was no head-scratching over her stated plans. It was clear and direct. It was also realistic.
She sees Yahoo! as it is, not as she wants it to be. She sees both its weaknesses and its many overlooked strengths.This is a huge change. There can be no "fixes" at the company until it correctly sees the problems that must get corrected. That includes "dumb" things like Yahoo!'s siloed technology across its various properties that don't talk to each other and allow for knowledge sharing of users across them. It also includes tweaking mobile search in the past quarter and seeing it pay immediate dividends. Beyond the financial stuff that new CEO Ken Goldman covered, there were two areas that Mayer covered that really stood out: Yahoo!'s ability to partner, and search. Carlos Kirjner of Bernstein asked her whether Yahoo! could "win in mobile without an operating system? Or in the long term wouldn't companies like Apple (AAPL), Google (GOOG), or even Microsoft (MSFT), who control the platform, end up disseminating
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts