Yahoo profits plunge
Afp, Sunnyvale
Internet search engine Yahoo Tuesday reported a massive dive in second-quarter profits, sending its shares plunging despite a surge in sales on the back of the football World Cup. Yahoo's net income for the quarter to June slumped 78 percent to 164.3 million dollars, or 11 cents per share. The figure was in line with Wall Street forecasts, after earnings in the equivalent quarter of last year were skewed by a windfall from the sale of Yahoo's stake in rival Google. Yahoo also suffered from changes to stock option accounting rules this year which depressed its headline income.
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