Business News
Yahoo revenues drop 13 per cent
Jul 22, 2009, 0:16 GMT
San Francisco - Internet portal Yahoo reported a 13-per-cent decline in second-quarter revenues to 1.573 billion dollars from 1.798 billion dollars a year ago.
Profit dropped 25 per cent to 76 million from 101 million a year ago, as the company struggled to deal with a drop in advertising.
Yahoo said that without currency fluctuations and the sale of shopping site Kelkoo, revenues would have dropped just 6 per cent.
'Even in this challenging economic environment, Yahoo had a solid quarter, reflecting the strength of our offerings for our users and advertisers,' Yahoo chief financial officer Tim Morse said.
'Moving forward, our goal is to invest in the long-term health of the business so that we are positioned to capture the growth opportunities created by the economic recovery and the ongoing shift to online advertising.'
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