Yahoo's results for the second quarter showed the internet company made earnings of $227m.
That was down 4% on its income for the same period last year. Earnings per share for the quarter remained level at 18 cents.
The company spent $456m buying back its stock, reducing its outstanding shares from last quarter.
The numbers for the latest quarter were dragged down by a $136m charge for employee layoffs and other cost-cutting measures.
The company cut staff numbers by 1,500 reducing its payroll to 12,500 employees.
Its best performers in the three months to June were Yahoo Japan and China's Alibaba Group Ltd.
Yahoo's earnings from those holdings and other investment totalled $180m, a 65% increase from last year.
Yahoo yesterday brought a new CEO on board; Marissa Mayer joined Yahoo after 13 years at Google where she helped build the Internet's dominant search and advertising service.
