Yahoo CEO Carol Bartz declared Tuesday that the struggling internet portal's turnaround is "proceeding on schedule," as she tried to put an upbeat spin on financial results that registered double-digit percentage declines for both revenue and profit.
"We are very confident we are headed in the right direction," Bartz, who is known for her colorful language, told investment analysts on a post-report conference call.
Although the Sunnyvale, California-based internet company announced that revenue fell 24 percent and earnings fell 28 percent, Wall Street's expectations for the purple-hued web pioneer were sufficiently low enough that the results were greeted positively by investors.