Yahoo profit rises by 46 percent, though sales still drag

Yahoo’s profits rose by 46 percent in the second quarter, aided by nearly a dozen product launches, though sales at the company were still down.

Net earnings for the quarter ended June 30 were $331 million, up from $227 million for the same quarter last year, Yahoo reported Tuesday.

Revenue, however, was $1.14 billion, a 7 percent decline from last year. Subtracting commissions and fees paid to advertising partners, the Internet company’s second-quarter sales were $1.07 billion, about 1 percent down compared to the same period last year.

In its first-quarter earnings, Yahoo, which has struggled in recent years to reinvent itself and maintain its relevance, also reported a 7 percent drop in revenue.

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Source: http://www.pcworld.com/article/2044496/yahoo-profit-rises-by-46-percent-though-sales-still-drag.html#tk.rss_all

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