Poor financial report will greet Yahoo’s new CEO
SAN FRANCISCO — Yahoo turned in another lackluster performance in the second quarter.
The results announced Tuesday underscore the challenges facing Yahoo’s newly hired CEO Marissa Mayer as she tries to turn around the Internet company after a 13-year career as a top Google executive.
Mayer, 37, will attempt to reverse years of financial lethargy that has plagued Yahoo while rivals such as Google and Facebook Inc. have prospered as advertisers spent more money promoting their wares on the Internet.
Yahoo struggled through its latest quarter under two different CEOs, Scott Thompson and Ross Levinsohn. Revenue for the period dipped 1 percent from last year to $1.22 billion.
After taking out ad commissions, Yahoo’s net revenue totaled $1.08 billion. That figure fell about $16 million, slightly below analyst estimates.
