Yahoo Inc. (NASDAQ:YHOO) reported a drop in net revenue and profit during its third quarter after the markets closed on Tuesday.
The internet company has struggled recently with a slowdown in its online advertising business. The recent poor performances led the company to shake things up during the quarter with the firing of Carol Bartz as Chief Executive Officer.
For the three months ending on September 30th the company earned $293 million, or 23 cents per share, down from the net income of $396 million, or 29 cents per share that its earned during the same quarter last year.
Net revenue was reported at $1.07 billion, down from $1.12 billion last year.
Both results beat Wall Streets expectations of 17 cents per share earning on revenue of $1.068 billion.
Yahoo! Inc. (NASDAQ:YHOO) traded 1.46 percent lower on Tuesday before closing at $15.47 per share.
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