SUNNYVALE, Calif. – SUNNYVALE, Calif. (AP) _ Yahoo Inc. (YHOO) on Monday reported a loss of $439.9 million in its second quarter.
The Sunnyvale, California-based company said it had a loss of 46 cents per share. Earnings, adjusted for one-time gains and costs, were 9 cents per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The Internet media company posted revenue of $1.31 billion in the period. After subtracting Yahoo’s advertising commissions, revenue was $841.2 million, which beat Street forecasts. Seven analysts surveyed by Zacks expected $835.5 million.
Yahoo shares have risen 14 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased 6 per cent. In the final minutes of trading on Monday, shares hit $37.95, a decrease of 2.5 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on YHOO at http://www.zacks.com/ap/YHOO
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