Search engine Yahoo has reported second quarter results which were broadly in line with expectations, but its shares fell after it forecast lower revenue for its current quarter.
Yahoo said revenue in the second quarter fell by 13% compared with a year earlier to $1.57 billion. Excluding traffic acquisition costs - the portion of revenue shared with Yahoo partners - Yahoo had net revenue of $1.14 billion, in line with the average of analysts' expectations.
Yahoo recorded a Q2 net profit of $141m, or 10 cents a share, compared with $131.2m a year earlier.
The company projected sales of $1.45 billion to $1.55 billion for the current quarter.
