Yahoo stock fell sharply Thursday after the company reported a $4 billion loss on revenues for the third quarter.
Shares fell nearly 6% after Yahoo said it lost $5 billion in revenue.
The stock lost $1 billion on Thursday and now trades at $29.99.
The company reported that revenue fell 5% in the third-quarter, while expenses rose 5%.
Yahoo said revenue fell $1.7 billion, or 10%.
The company also said it reported a net loss of $2.6 billion on revenues of $18.8 billion.
Yahoo reported a loss of about $5.6 million on revenues last year.
It reported a profit of $9.1 billion, which it said was due to a $1-billion write-off of a portion of its Alibaba-owned businesses.
Yamashiro Sato, Yahoo’s CEO, said in a conference call that the company is focusing on getting back to profitability.
“This is the only reason why we’re still in this business,” he said.
“There are many, many opportunities.
And we’re focused on getting those opportunities.”
Yahoo shares closed at $30.50, down 5.3%.
Shares in the online search company fell 3.7% after the news conference.