Yahoo Inc said it has fixed various shortcomings that have plagued the Internet company in recent years and touted its large online audience and ties to advertisers as keys to its comeback.
During a presentation to analysts on Wednesday, Chief Executive Carol Bartz said Yahoo had left many people confused about its purpose in recent years and disappointed by its lackluster financial performance.
Along the way, here we are a 14-year-old Internet company that somehow got boring, said Bartz, who said the company's 6 percent operating margins were pathetic and unacceptable.
Today is the beginning of a journey back to respect, Bartz said.
Yahoo executives said the company would invest in editorial staff to produce more original features and tweak its online products to keep users on the site longer and boost advertising revenue.
Since Yahoo revamped its homepage in July, page views have increased 9 percent while time spent on the site has increased 20 percent, according to Tapan Bhat, senior vice president for integrated consumer experience. Click-throughs on the main ad on the front page have increased 10 percent, he said.
Since Bartz took over as CEO in January, the company cut 5 percent of its staff and has shed several businesses.
In July, Yahoo announced a 10-year deal to let Microsoft Corp provide search technology, a partnership designed to save costs and mount a more effective challenge to Google Inc, the world's No.1 search engine.