Yahoo! net dips 4.2% in April-June

 Struggling Internet company Yahoo! reported a marginal decline of 4.2 per cent in net income at US$228.4 million for the April-June period this year.

The company’s revenue stood at US$1.08 billion in the second quarter of 2012, as against US$1.07 billion in the year ago period. In the second quarter of 2011 the struggling Internet company had reported net income of US$238.5 million.

The announcement of earnings comes amid 37-year-old Marissa Mayer taking over as CEO of the company.

However, Mayer as well as Ross Levinsohn, the executive whom she replaced, reportedly skipped the company’s earnings call on Tuesday.

On the results, Yahoo! Chief Financial Officer Tim Morse, who led the earnings call solo for the company, said, “In the second quarter, non-GAAP earnings per share exceeded consensus.”

In the second quarter of 2012, non-GAAP net earnings per diluted share increased 47 per cent year-over-year to 27 cents and during the second quarter of 2012, Yahoo! repurchased 30 million shares for US$456 million, the company said.

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