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Yahoo 3Q Profit Soars Despite 12 Percent Revenue Drop

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yahoo-logoYahoo’s third-quarter profit more than tripled even though the Internet company’s quarterly revenue fell by at least 12 percent for the third consecutive time.

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The earnings improvement reported Tuesday was primarily driven by extensive cost cutting that has eliminated more than 2,000 jobs during the past year.

But the Sunnyvale, California-based company is still struggling to lure back advertisers that have clamped down on their budgets during the recession and shifted some spending to other up-and-coming Web sites.

Yahoo says it earned $186 million, or 13 cents a share. That compares with income of $54 million, or 4 cents a share, at the same time last year.

Revenue fell 12 percent to $1.58 billion.

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Dena Cassella
Dena Cassella
Former Digital Trends Contributor
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