Yahoo Q2 Earnings A Mixed Bag

Search engine Yahoo Inc. (YHOO) saw its sales drop 13 percent in the second quarter, even as profit rose 8 percent.

Net income totaled $141 million, compared to $131 million during the same period a year earlier. Revenue, on the other hand, fell to $1.57 billion, down from $1.8 billion.

The company, which faces a new competitor in the form of Microsoft’s Bing, struggled as advertisers cut online spending because of the recession. No. 1 search engine Google Inc. has the same problem, although to a lesser degree.

Still, cost-cutting measures – including hundreds of layoffs – cushioned the blow for Yahoo.


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