Yahoo! reports fall in search and display advertising
Yahoo's search engine advertising business suffered a bigger decline than expected in the second quarter of 2009.
Revenue from search advertising fell 15 per cent year on year, while display advertising revenue fell 14 per cent.
Yahoo!'s shares saw a 2 per cent drop in after-market trading after it revealed that net revenues had fallen by 16 per cent overall in the second quarter of the year to $1.136 billion, which was below analysts' expectations.
Yahoo! said it would begin a marketing campaign this quarter to rebuild its brand.
The company's third-quarter financial projections were also below some analysts' expectations. Yahoo! said improving its services would result in $75 million in costs and eradicating ads that users found irritating or irrelevant would cause a drop of $75 million a quarter from revenues.
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