Yahoo's lacklustre 2nd-quarter results illuminate challenges facing new CEO Marissa Mayer

July 17, 2012 - 4:40 PM

SAN FRANCISCO - Yahoo turned in another lacklustre 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 US$227 million for the three months ending in June. That was down 4 per cent 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 per cent from last year to $1.22 billion.

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

News from © The Associated Press, 2012

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