Internet search engine Yahoo Inc. reported second-quarter results Tuesday that fell short of Wall Street's expectations as the company struggles with dwindling market share and softening economic conditions.
The Sunnyvale, Calif.-based company said quarterly net income fell 18% to $131 million, or 9 cents per share, from $161 million, or 11 cents per share, a year ago.
Sales rose 6% to $1.79 billion from $1.69 billion a year ago. Stripping out certain revenue costs, Yahoo reported that sales climbed 8% to $1.35 billion in the quarter from $1.24 billion last year. Analysts were expecting $1.37 billion.