InternetLive blog: Yahoo discusses second quarter (CNET)

CNET - Yahoo's financial results came in lower than analyst expectations for revenue and net income, but the stock is trading higher after hours. Here are highlights from what Chief Executive Jerry Yang, President Sue Decker, and Chief Financial Officer Blake Jorgensen have to say about the second quarter during the company's conference call.

Yahoo's financial results came in lower than analyst expectations for revenue and net income, but the stock is trading higher after hours. Here are highlights from what Chief Executive Jerry Yang, President Sue Decker, and Chief Financial Officer Blake Jorgensen have to say about the second quarter during the company's conference call. • To recap, here are Yahoo's numbers: Revenue excluding commissions increased 8 percent to $1.346 billion, shy of the $1.37 billion analysts had expected. Net income was 10 cents per share, excluding items, compared to 11 cents expected by analysts surveyed by Thomson Reuters. • Yang optimism: "The indicators of Yahoo's progress are promising." But advertising has a tough environment. "We were affected by weakness in the overall economy," he said. With consumer packaged goods and finance, branded advertising revenue "softened." • Yang is relieved Carl Icahn is now an ally (we'll see if he's more genial on the board than he has been off it): "Our board and management are pleased to have reached this agreement to settle the proxy contest...We look forward to working with the new board members who will be joining us." • Yang made the case, essentially, that the executive exodus was all part of Yahoo's plan. "We are actively promoting talented executives... [ Read more on www.yahoo.com ]

InternetTechnical Analysis: Bulls Get Tested

The major indexes appear headed for their first big test since the rally began last week.

InternetStormy Weather for Amazon's Cloud Storage

Brief downtime hits the company's S3 service again.