Internet company Yahoo reported higher quarterly earnings, driven by strength in online advertising and its fee-based services. The firm also raised its financial guidance for the year. It's earnings increased of 137% in the second quarter, in line with expectations, on slightly better than anticipated sales.The company earned $50.8m, or 8 cents a share, compared with net income of $21.4m, or 3 cents a share, a year ago. Sales were worth $321.4m, up 42% from revenue of $225.8m, in the same period last year.
Yahoo's fee-based businesses, including premium e-mail services, personal ads, games and an internet access partnership with SBC Communications, rose 43% from the same period last year to $69.9m. This was below analyst expectations.
Yahoo raised its sales guidance for the third quarter and full year saying it anticipates third-quarter sales to come in between $318m and $338m.
