Valleywag
Yahoo reported second-quarter profits of $131 million, down from $161 million the first quarter. Even after lowering their expectations, Wall Street analysts hoped the company would report profits of $140 million. The company also missed on revenues, reporting $1.35 billion in revenues after payments to Web publishers which carried Yahoo-sold ads. Wall Street wanted $1.37 billion. Hoping to breed some optimism, CFO Blake Jorgensen told Reuters Yahoo has not changed its financial guidance for 2008, despite advertising woes.
Yahoo misses Wall Street's lowered expectations
2:00 PM on Tue Jul 22 2008
By Nicholas Carlson
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