Yahoo Inc. saw sales decline again in the second quarter as the Internet portal’s online advertising business continued to deteriorate, according to a story in the Wall Street Journal.
Yahoo Inc.’s revenue fell 13% in second quarter amid steep declines in both display and search ads, according to a story in the Wall Street Journal.
Written by Jessica E. Vascellaro, the story says that aggressive cost-cutting permitted Yahoo to post a profit gain of 7.8% from a year earlier, but that the future looks cloudy for the company.
The recession is hampering Yahoo’s ability to combat long-standing problems, such as under-performance in its search business, the story says.
Despite slowing ad sales, the company’s revenue was 3% higher than a year ago, the story says.
A new CEO, Carol Bartz, has been trying to get the company back on its feet by restructuring management and shifting resources toward its biggest properties, such as Yahoo Mail and Yahoo.com.
WSJ Online subscribers may read the full story here.