Yahoo Q2 earnings and revenue drop

Yahoo Inc said on Tuesday that its second-quarter earnings and revenue declined, as the company struggled again with display advertising sales. Yahoo earned $270 million, or 26 cents per share, in the March-June quarter. That’s down from $331 million, or 30 cents per share, in the same period a year earlier. Adjusted earnings were 37 cents per share in the latest quarter. Revenue fell four per cent to $1.08 billion from $1.14 billion. After subtracting commissions paid to Yahoo’s ad partners, revenue totaled $1.04 million, down three per cent from $1.07 billion a year ago.

Both fell short of Wall Street’s expectations, as did revenue forecast for the current quarter, causing the limping Internet icon’s stock to fall in extended trading.