Yahoo! said Tuesday its second-quarter profit rose sharply from a year ago, but revenues lagged, offering a mixed picture for chief executive Marissa Mayer's turnaround efforts.
Net profit rose 46 percent from a year ago to $331 million, slightly better than expected, but revenues excluding payments to partners fell one percent to $1.07 billion, the Internet giant said.
"I'm encouraged by Yahoo!'s performance in the second quarter. Our business saw continued stability, and we launched more products than ever before, introducing a significant new product almost every week," said Mayer.
Mayer cited the company's 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, and the company's new Yahoo! app with Summly.
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