Yahoo managed to increase its second-quarter revenue despite the economic slowdown and aggressive, sustained and sometimes contradictory investor pressures to do something – anything – to catch up with Google.
Yahoo’s revenue was $1.8 billion for the second quarter of 2008, a 6 percent increase compared with $1.7 billion for the same period of 2007.
But net income for the second quarter of 2008 was $131 million, down from $161 million from Q2 ’07.
Yahoo CEO Jerry Yang reiterated what he’s been saying to mollify investors since last year: “Yahoo is executing against its strategy, and we believe is well positioned for long-term growth and maximizing stockholder value.”
Sue Decker, president of Yahoo, said: “We advanced our position with users by opening up Yahoo through new innovative offerings like SearchMonkey and BOSS in search and have seen great improvements with Buzz in the freshness of content on our homepage. Our commercial agreement with Google is another great example of our open strategy, and we expect it will strengthen our competitive position as a leading provider of search and display advertising.”
“On the advertising side,” Decker’s statement continued, “our growing list of major agency partners, including Publicis, WPP, Havas and premier publishing partners including walmart.com, CNET and Turner, are great examples of our ability to be the partner of choice across search and display advertising. We remain confident that our efforts will lead to a stronger and more profitable Yahoo.”
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