Yahoo Reports Quarterly Loss Of $99m

Chief executive Marissa Mayer said the firm has "made substantial progress towards potential strategic alternatives".

Yahoo chief financial officer Ken Goldman said the results were "at the high end or above our guidance ranges" and that company continued to look at "the strategic alternatives process as a top priority."

Yahoo has reported a quarterly loss of $99m (£68m), months after revealing "aggressive" efforts to turn around its fortunes.

In February the struggling internet company announced a 15% cut to its workforce as part of a push to drive growth after its $4.4bn loss in 2015.

Despite the slump, shares in the company rose 1.5% in after-hours trading.  The faded internet pioneer put its core business up for sale in February after shelving plans to spin off its lucrative $33bn (£23bn) stake in Chinese e-commerce business Alibaba – which could have landed it with a tax bill of more than $10bn (£7bn).

Possible buyers are said to include US telecoms giant Verizon Communications and publisher Time Inc, as well as private equity investors TPG and Kohlberg Kravis Roberts.