Internet giant Yahoo keeps raking in more money as advertisers continue to shift their spending to the Internet, although the Internet powerhouse keeps lagging behind online search leader Google, an Associated Press report said.
An unexpected delay in a much-touted technology for boosting Yahoo's ad revenue overshadowed another solid quarter for the company, triggering a nearly 14% slide in its stock price this week, the report said.
If not for the backlash, Yahoo might have been in a better position to celebrate its second-quarter results, the report further said.
The quarterly profit marked a 78% drop from the second quarter of 2005, when Yahoo earned $754.7 million.
The sharp decline is deceiving because Yahoo realized a $552-million windfall in last year's quarter by selling its remaining stake in Google.
Revenue for the second quarter totaled $1.58 billion, a 26 % improvement from $1.25 billion last year. After subtracting the commissions Yahoo paid to other Web sites in its advertising network, revenue stood at $1.12 billion, up 28% from last year, the report said.