Yahoo triples profits thanks to cost cutting

2009-10-21 15:25

Yahoo tripled its third-quarter profits as aggressive cost-cutting

offset a slight decline in revenue.

The struggling internet pioneer said this week that it earned

$186?million (R1.4?billion) compared to $54?million in the year-ago quarter.

Revenue fell to $1.57?billion from $1.79?billion.

The company has slashed more than 2?000 jobs this year in an effort

to rein in costs. It also signed a search and advertising deal with Microsoft in

July in an attempt by both companies to begin challenging the dominance of

Google in web searches.

“With revenue coming in above our guidance and flat sequentially,

we had a solid third quarter that signals our major businesses have stabilised,”

said chief executive Carol Bartz.

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