Yahoo shares fall following earnings drop
Published July 18th, 2007
Shares of Yahoo Inc. slipped Wednesday morning after the Internet portal giant reported a slight drop in second-quarter profit as the company continues to struggle against competition from Google and Microsoft.
The report, issued after Tuesday’s closing bell, was the company’s first since the departure of chief executive Terry Semel and the appointment of co-founder Jerry Yang to the post.
Earnings for the quarter slipped more than 2% from the same period last year, but were in line with Wall Street’s estimates.
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