New Yahoo CEO says company needs to “do better”

Yahoo Inc Chief Executive Scott Thompson said reviving the company’s flagging display advertising business was his “highest priority,” even as he crafts a broader plan to bring the struggling Internet company back to fighting form.

“There’s no question that we need to do better,” said Thompson on his first quarterly earnings since taking the reins earlier this month, as Yahoo reported another decline in sales and profit on Tuesday.

Analysts prodded Thompson for clues about his plans for Yahoo Inc, which fired former CEO Carol Bartz in September and last week saw co-founder Jerry Yang resign unexpectedly, but all they received were boilerplate comments about how the company needs to “do better” and “get innovative products that matter into the market.”