Yahoo‘s second-quarter results aren’t giving Marissa Mayer a lot to celebrate as she completes her first year running the internet company.
The numbers released Tuesday show Yahoo Inc.’s earnings climbed 46%, thanks to a major boost from an investment in Chinese internet company Alibaba.
But Yahoo’s revenue fell 7% from last year, highlighting a recurring problem despite other signs of progress under Mayer’s leadership.
The lacklustre growth reflects Yahoo’s difficulties selling more digital advertising as marketers increase their spending at rivals Google Inc. and Facebook Inc.
Yahoo earned $331 million, or 30 cents per share in the three months ending in June. That compared with net income of $227 million, or 18 cents per share, at the same time last year.
Revenue totalled $1.14 billion.
