Yahoo earnings continue to struggle

Fading Internet star Yahoo reported revenue and profit both dipped slightly from a year earlier, in its second-quarter financial results.

Yahoo's revenue for the quarter ended June 30 came in at $1.08bn (£690m), marginally below last year's total after commissions paid to partners were subtracted.

Financial analysts had been expecting revenue of $1.1 billion, according to Thomson Reuters.

Net income was £145m ($226.6m), down from £152m ($237.0m) in the same quarter last year.

On a per-share basis, earnings were flat at £0.12 ($0.18), Yahoo said.

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In the quarter just ended, Yahoo's revenue from display advertising, including traffic acquisition costs, was £342m ($535m), up 2 per cent from a year earlier.

Its revenue from search, also including acquisition costs, was £295m ($461m), a 1 per cent decrease, Yahoo said.

The income figures above include restructuring charges and deal-related expenses.

Excluding those charges, Yahoo's net earnings would have been $0.27 per share, it said, ahead of financial analysts' forecast.