Yahoo Profit Falls as Competition With Google Rises
Yahoo! Inc., which trails Google Inc. in Internet search users, reported a 38 percent drop in third- quarter profit and forecast sales this period that will miss analysts' estimates. The shares fell 2.5 percent.
Net income declined to $158.5 million, or 11 cents a share, from $253.8 million, or 17 cents, a year earlier, Yahoo said today. Sales excluding revenue passed on to partner sites rose 20 percent to $1.12 billion. Revenue will be $1.15 billion to $1.27 billion this quarter, missing analysts' predictions of $1.31 billion.
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