Yahoo Inc. shares fell 0.4% late Monday after the internet company posted second-quarter earnings per share that were below Wall Street expectations. Yahoo reported a loss of 46 cents a share, compared with a loss of 2 cents a share in the year-ago period. Adjusted for one-time items, Yahoo earned $172 million, or 9 cents a share, in the quarter, compared with $262 million, or 16 cents a share, in the second quarter of 2015. Revenue hit $1.3 billion, up from $1.2 billion a year ago. Adjusted revenue fell to $841 million from $1.04 billion a year ago. Analysts had expected adjusted earnings of 10 cents a share on adjusted sales of $840 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News