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Yahoo's 3Q shows company remains in financial funk

3:56 am on Oct 19, 2011 (gmt 0)

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Yahoo's 3Q shows company remains in financial funk [560wind.com]

Yahoo keeps losing ground in the fast-moving Internet market, increasing the pressure on the struggling company to abandon its perpetual turnaround attempts and negotiate a sale with one of several prospective bidders.

The latest signs of Yahoo Inc.'s malaise surfaced Tuesday in its third-quarter earnings report. The lackluster results for the July-September period extended a streak of financial mediocrity that culminated in Yahoo's abrupt firing of Carol Bartz as CEO last month.

Although cost-cutting measures imposed by Bartz helped boost Yahoo's earnings after stripping out one-time gains, the company is still selling less advertising at a time when the overall Internet market has been growing.

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