kpix-7-2013-masthead kcbs 7-2013-masthead

Tech

Yahoo’s 2nd Quarter Earnings Rise 46 Percent, Revenue Sinks

View Comments
Yahoo Headquarters

Yahoo corporate offices in Sunnyvale (David Paul Morris/Getty Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

SUNNYVALE (CBS/AP) – 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.

(Copyright 2013 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

 

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 53,847 other followers