Yahoo 2nd Quarter Earnings, Revenue Flat

SAN FRANCISCO (CBS/AP) — Yahoo turned in another lackluster performance in the second quarter.

The results announced Tuesday underscore the challenges facing Yahoo’s newly hired CEO Marissa Mayer as she tries to turn around the Internet company after a 13-year career as a top Google executive.

Yahoo earned $227 million for the three months ending in June.

That was down 4 percent from net income of $237 million a year ago.

Earnings per share for the quarter remained level at 18 cents per share.

The numbers for the latest quarter were dragged down by a $136 million charge for employee layoffs.

Revenue for the period dipped 1 percent from last year to $1.22 billion.

After taking out ad commissions, Yahoo’s revenue totaled $1.08 billion. That figure was slightly below analyst estimates.

 

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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