Yahoo still makes billions in revenue every year. And the vast majority is not from finance or sports.
Baffling to some HN readers perhaps, but Yahoo is still one of the biggest online destinations. It has a DAU count an order of magnitude larger than say Reddit, and it monetizes those users far more effectively.
I would say that Reddit, despite its popularity, is notoriously mismanaged, so it's actually quite an appropriate comparison. Reddit is just culturally more relevant :-)
Alexa is a terrible way to compare traffic on websites. Their data is biased towards people who run Windows and are willing to run their toolbar.
I know for sure that it has always massively undercounted reddit traffic for example but I'll bet it is fairly accurate for Yahoo, since "runs Windows and random toolbars" is their target audience.
Baffling to some HN readers perhaps, but Yahoo is still one of the biggest online destinations. It has a DAU count an order of magnitude larger than say Reddit, and it monetizes those users far more effectively.