Yahoo's 3Q earnings, revenue drop

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Associated Press

Posted on October 15, 2013 at 6:07 PM

SAN FRANCISCO (AP) — Yahoo is regaining its appeal among investors a lot faster than with the online advertisers who generate most of its revenue.

The company's latest quarterly results released Tuesday are the latest to underscore CEO Marissa Mayer's challenges even as Yahoo's stock continues to soar under her leadership.

Yahoo Inc. earned $297 million, or 28 cents per share, in the three months ending in September. That's 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.

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