Looking visibly tense, Yahoo CEO Marissa Mayer said Tuesday during the company's first quarer earnings call that selling off its core business is Yahoo's top priority. But when analysts asked for more details that might be pertinent to the sale, she and CFO Kenneth Goldman declined to divulge further information in multiple exchanges.
The call came as Yahoo began weighing bids from potential buyers of the company, with many expecting the core business to sell for between $6 billion and $8 billion, according to Re/code. The number of bids to roll in has fallen far below the dozens initially rumored to be interested, and Verizon still looks like the most likely buyer.
"Our board, our management team and I have made the strategic alternative process a top priority. Our strategic review committee is comprised of independent directors, well experienced in strategic transactions. They are leading a well-run process to achieve the best possible outcome for our shareholders. The management team and I have supported the board's process from the start and we are moving expeditiously," Mayer said during her introductory remarks.
During the Q&A portion of the call, Mayer declined to speak in detail about timing of particular offers on the company. CFO Kenneth Goldman told analysts, "We're not going to update any of our guidance for the year or the second half."
Yahoo's earnings were weak, but not as bad as analysts expected, according to CNBC. First quarter earnings came in at 8 cents per share, down from 15 cents a year ago but slightly better than the 7 cents per share earnings projected by analysts.
While the company spirals into ruin, losing audiences and dropping content verticals, The Guardian reports that Mayer -- who many blame for the company's failure -- is poised to make out like a bandit.
The CEO criticized for micromanaging Yahoo and wasting the company's resources could net a buyout of $59 million on top of the $78 million in compensation she's reportedly earned since joining the company in 2012.
Listen to a portion of Mayer's Q1 earnings call remarks: