Yahoo shares slip after q2 report shows continuing weaknesses

Today’s the one-year anniversary of Marissa Mayer‘s appointment as CEO, but the Q2 financial report she just released doesn’t seem to be inspiring many cheers on Wall Street. Yahoo shares

are down 1.6% in post-market trading after the disclosure. The company generated $331.2M in net income, +46.1% versus the same period last year, on revenues (not including traffic

acquisition costs, or TAC) of $1.07B, -1%. The revenue number is slightly lower than the $1.08B that analysts expected. Earnings came in at 30 cents a share, matching the consensus forecast.

RELATED: Yahoo Board OKs $1.1B Deal To Acquire Tumblr: Analysis The core advertising business was uninspiring. Display revenues (not including TAC) fell 11% to $423M, though search ads

(also ex-TAC) were +5% to $403M. Meanwhile, Yahoo says that it completed its $3.65B share repurchase following the sale of part of its stake in Alibaba Group, but plans to spend $1.9B more

on buybacks. Mayer touts Yahoo’s “continued stability” and efforts to energize its businesses. “From the new Yahoo News, the new Yahoo Sports app, the redesigned Yahoo search, the new

Flickr, the new Yahoo! Mail for tablet, the Yahoo Weather app, our new Yahoo app with Summly — this quarter drove tremendous improvements in our product line and our users responded with

increased usage and engagement,” she says. RELATED: Yahoo CEO Vows To Boost Mobile Services, Personalization