Internet giant
Yahoo continues to struggle, reporting declining ad revenue in the second
quarter of 2013,
The results were the first since the company acquired blogging platform Tumblr for $1.1bn (£73m) in June.
Profits were $331m, up 46% from the same time last year. The rise was due mostly to the company's investment in Chinese ecommerce site Alibaba.
Display advertising revenue fell 13% in the quarter, while search revenue was down 9%.
Chief executive Marissa Mayer, who celebrated one year at the company on Tuesday, chose to ignore the continued revenue slide. Instead, she hailed the company's relentless release of new mobile offerings.
Reaction on Wall Street was muted, with shares falling 1.7% on the news.
No comments:
Post a Comment