Yellow Pages Group (YPG) announced its latest quarterly earnings last week as CEO David A. Eckert shared the luck warm news to the market.
“This quarter, for the third quarter in a row, we are reporting dramatically increased EBITDA less CAPEX, which is 59% higher than last year. We continue to concentrate on aligning our spending with the realities of our revenue and laying the groundwork for profitable growth. We have accelerated the shedding of unprofitable or non-synergistic businesses and revenues, to allow us to concentrate on creating long-term value and growth,” said David A. Eckert, President and CEO of Yellow Pages Limited.
YPG had a decrease in both digital and print revenues which caused a decrease by $45.5 million or 25.9% year-over-year revenues and amounted to $130.2 million as compared to $175.7 million for the same period last year. Over the last year the company has been selling off pieces of its Mediative business such as its RedFlagDeals.com. YPG [Marketplace Listing] also announced plans to dump JUICE which it acquire for $25M back in 2016. Unfortunately the acquisition of JUICE didn’t produce the results YPG had expected as we’ve reported here and here.
Somewhere out there Patrick Lauzon is shaking his head in disappointment, after all, he was the guy behind the formation of Mediative.
What is next for Yellow Pages Group (YPG)
Take a look at the picture to the right,….
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Take a look at the picture to the right, this is where Yellow Pages used to be, a big book they delivered to millions of Canadians at no cost. As the Internet came along there was no need for a Yellow Pages book, it was something that held doors ajar or pushed to the back of the closet shelf. YPG simply did not change fast enough and capture more digital dollars while they transitioned away from print media.[/wlm_private]