Yahoo's new CEO lays out strategy for smaller, more focused company

Yahoo plans to cut about 50 properties and refocus on its core business, CEO Scott Thompson said in an earnings call on Tuesday. In Thompson's first earnings call that reflected a full quarter of his leadership, he outlined a six-point plan to shrink Yahoo down to a smaller, more profitable business. The call followed the company's report that it saw increased profits, but its total revenue grew by just 1 percent.

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