Yahoo profits dip in second fiscal quarter
AFP, July, 2007
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SAN FRANCISCO (AFP) — Yahoo reported Tuesday that its profits dipped to 161 million dollars in the recent quarter as the Internet giant continues to lag behind rival Google when it comes to making money.
Yahoo overall revenues for the quarter ending June 30, 2007 were 1.24 billion dollars, an 11 percent increase from the same period last year, but it logged three million dollars less in profit.
"I am focused on doing everything we need to do to strengthen our business, capture long-term growth opportunities and create increased value for our shareholders," Yahoo co-founder and chief executive Jerry Yang said in a release accompanying the earnings report.
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