Yahoo for Yahoo: Q2 Earnings Send Stock Up
Yahoo's stock rose steadily today after the Web portal reported earnings that beat analysts' estimates.The company's shares were up $1.36, or 7 percent, to $18.39 in early-morning trading.
Yahoo yesterday reported second-quarter pro forma net income of $8.7 million, or a penny per share, compared with $69.1 million, or 11 cents a share, in the same period a year ago.
Yahoo, which was hit hard by the steep decline in online ad revenue, said it expects advertising to make up about 80 percent of its revenue for the rest of the year. The remainder will be made up of money received for corporate and premium services.
Overall, Yahoo lost $48.5 million in the second quarter.
