Business

Yahoo’s profit declines sharply

SAN FRANCISCO — Yahoo Inc.’s latest quarterly results show the Internet company is regaining its appeal among investors a lot faster than with the online advertisers who generate most of its revenue.

The numbers released Tuesday are the latest to underscore chief executive Marissa Mayer’s challenges, even as shares continues to soar under her leadership.

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Yahoo earned $297 million, or 28 cents per share, in the three months ended in June. That was a 91 percent drop from nearly $3.2 billion, or $2.64 per share, at the same time last year. It wasn’t an apples-to-apples comparison, because last year’s profit was lifted by a $2.8 billion windfall from Yahoo’s sale of part of its stake in Alibaba Group.

Revenue fell 5 percent from last year to $1.1 billion.

Associated Press

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