Showing posts with label Yahoo Finance. Show all posts
Showing posts with label Yahoo Finance. Show all posts

Tuesday, July 19, 2011

Yahoo profits rise but sales dip as rivals dent market


Yahoo has reported a dip in its revenue for the second quarter due to weaker-than-expected advertising sales.

The company said it generated $1.08bn (£670m) in revenue in the three months to June, a 4.6% decline compared to the same period last year.

The data comes as Yahoo has been facing increasing competition from rivals Google and Facebook.

However, despite a drop in revenue, Yahoo said its profits rose by 11% from a year ago to $237m.

Carol Bartz, the chief executive of Yahoo said the second quarter was a "mix of good, encouraging and, at the same time, unsatisfactory" developments.

"The issue was we did not have enough sales people in front of the big clients," she said.