SUNNYVALE, California: Internet portal Yahoo has reported a slide in third-quarter net income to $158.5 million (€126.3m; £84.7m) from $253.8m a year earlier. Revenue rose 19% to $1.58 billion from $1.33bn a year earlier.
Increased competition for online advertising is offered as the reason for the less-than-sparkling performance, which ceo Terry Semel pledges to improve.
Speaking to analysts, the company's executives cited a "glut" of new web places to advertise such as video and social networking sites, which they hope to counter by convincing marketers of Yahoo's virtues.
They claim the company's premium ad offerings remain "extremely well protected" as it increases efforts to make money from its own non-premium, lower-priced ad placements.
Data sourced from Wall Street Journal Online; additional content by WARC staff