Yahoo plods through 2Q as declining revenue overshadows 11 per cent earnings increase

SAN FRANCISCO – Yahoo plodded through another disappointing performance in the second quarter.

The results, released Tuesday, may intensify pressure on Yahoo CEO Carol Bartz, who has spent the past 2 1/2 years trying to turn around the Internet company.

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Yahoo Inc. earned $237 million, or 18 cents per share, during the three months ending in June. That’s an 11 per cent increase from $213 million, or 15 cents per share, at the same time last year.

But Yahoo’s revenue sank at a time when advertisers are pouring more money into the Internet.

Net revenue totalled $1.08 billion, down 5 per cent from last year. The drop looks even worse when compared to Internet search leader Google Inc., whose net revenue surged by more than 30 per cent in the second quarter.