Yahoo's 2Q earnings rise 46 pct, revenue sinks

Jul 16, 2013

Yahoo's second-quarter results aren't giving Marissa Mayer a lot to celebrate as she completes her first year running the Internet company.

The numbers released Tuesday show Yahoo Inc.'s earnings climbed 46 percent, thanks to a major boost from an investment in Chinese Internet company Alibaba.

But Yahoo's revenue fell 7 percent from last year, highlighting a recurring problem despite other signs of progress under Mayer's leadership.

The lackluster growth reflects Yahoo's difficulties selling more digital advertising as marketers increase their spending at rivals Google Inc. and Facebook Inc.

Yahoo earned $331 million, or 30 cents per share in the three months ending in June. That compared with net income of $227 million, or 18 cents per share, at the same time last year.

Revenue totaled $1.14 billion.

Explore further: HP sales inch up while profit drops

1 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Yahoo! completes Tumblr takeover

Jun 20, 2013

Yahoo! said Thursday it has completed a billion-dollar deal taking over the popular blogging platform Tumblr, a move aimed at bringing more youthful users into the company's orbit.

Recommended for you

HP sales inch up while profit drops

7 hours ago

Hewlett-Packard on Wednesday reported that its quarterly revenue was nudged up by improved computer sales, but its profit dropped as the veteran technology firm tried to renew its momentum.

Restaurants experimenting with pay-in-advance tickets

10 hours ago

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

12 hours ago

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

User comments : 0