Yahoo reports small Q2 pro forma profit
PALO ALTO, Calif., July 11 (Reuters) - Internet media company Yahoo! Inc. (NasdaqNM:YHOO - news) on Wednesday reported a small second-quarter pro forma profit, reflecting the weak online advertising business, which has taken a bite out of its revenues.
Yahoo said it earned $8.7 million, or one cent per share, in the quarter on a pro forma basis, compared with a profit of $69.2 million, or 11 cents per share in the year-ago quarter.
The results were slightly ahead of most analysts' forecasts for a breakeven second quarter.
Yahoo said its revenues fell to $182.2 million from $273 million. Analysts surveyed by Thomson Financial/First Call had forecast second-quarter revenues of $175.1 million