(The Canadian Press) SAN FRANCISCO _
Yahoo Inc. (
NASDAQ: YHOO,
Stock Forum) second-quarter results aren't giving Marissa Mayer a lot to celebrate as she completes her first year running the Internet company.
The numbers announced in a press release on Tuesday show Yahoo Inc.'s earnings climbed 46 per cent, thanks to a major boost from an investment in Chinese Internet company Alibaba.
But Yahoo's revenue fell 7 per cent from last year, highlighting a recurring problem despite other signs of progress under Mayer's leadership.
The lacklustre growth reflects Yahoo's difficulties selling more digital advertising as marketers increase their spending at rivals
Google Inc. (
NYSE: GOOG,
Stock Forum) and Facebook Inc. (
NASDAQ: FB,
Stock Forum).
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 totalled $1.14 billion.
Yahoo Inc. shares declined 1.7% to close at $26.88 ahead of the company’s quarter results.