23 Jul 2008
Yahoo's woes were increased last night as its attempts to fend off a hostile approach from Microsoft took a toll on its profits.
The internet giant saw net income for the second quarter fall 19 per cent to $131m (£66m) from $161m (£81m) in the corresponding quarter a year ago.
Revenue was $1.8bn (£900m), a six per cent rise from $1.7bn (£850m) in the year-ago quarter.
The Microsoft bids cost the company dear, with $22m (£11m) spent on outside advisors and related litigation defense costs during the quarter.
Earlier this week Yahoo agreed to give activist investor Carl Icahn a seat on its board of directors and the power to nominate two further directors.
The move comes after Icahn and Microsoft discussed a fresh bid for the company last weekend, and seemed to be designed to prevent a hostile takeover.
Have your say on this article
Newsletters
Latest stories from Management
Latest videos
You may also like
Management jobs
Technology Patent Wars
Case studies from large organisations across all sectors
... And rich media, and flexible working, and peaks in traffic ...
Upcoming Events
Join us for this Computing web seminar, in which the Head of BI at the Co-operative Group Nick Colebourn will be explaining just how he reigned in the Group’s sprawling database estate and how significant savings were realised and data quality improved as a result.
Date: 31 May 2012
Time: 11:00 AM
Live June 13th 11:00am: Register now. During this web seminar we will be looking at the sorts of incidents that can bring data centres grinding to a halt and what can be done about them.
Date: 13 Jun 2012
Time: 11:00 am
Receive the latest jobs direct to your inbox
Are you being paid what you are worth?
