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Yahoo plods through 2Q as declining revenue overshadows 11 percent earnings increase
SAN FRANCISCO (AP) ' Yahoo plodded through another disappointing performance in the second quarter.
The results, released Tuesday, may intensify pressure on Yahoo CEO Carol Bartz, who has spent the past 2 years trying to turn around the Internet company.
Yahoo Inc. earned $237 million, or 18 cents per share, during the three months ending in June. That's an 11 percent increase from $213 million, or 15 cents per share, at the same time last year.
But Yahoo's revenue sank at a time when advertisers are pouring more money into the Internet.
Net revenue totaled $1.08 billion, down 5 percent from last year. The drop looks even worse when compared to Internet search leader Google Inc., whose net revenue surged by more than 30 percent in the second quarter.