Yahoo reports 2% Q3 revenue increase
Yahoo reported a 2% year-over-year revenue increase to $1.6 billion in the third quarter.
Owned and operated display advertising grew 17% in Q3, compared to the same period in 2009. However, the company saw a 7% decline in its search business in the third quarter, year-over-year. Despite this, the company's search alliance with Microsoft is on track, said Carol Bartz, president and CEO of Yahoo, on an earnings call.
Income from operations increased 107% year-over-year to $189 million for the quarter, while net income jumped 113% to $396 million.
Marketing services revenue for the period from owned and operated sites increased 3% compared to 2009 Q3 results. This increase was mainly attributed to the increase in display advertising revenue.
Marketing services revenue from affiliate sites increased 6%, compared to the same period of last year.
Overall, Yahoo is working to “revamp engineering to innovate as fast as the market demands,” said Bartz.