Yahoo Takes a Backseat to Google in Ad Revenue
Yahoo! shares plummet 4 percent as ad revenues take a major hit
Getty Images
Poor ad revenue led to a bad day on Wall Street for Yahoo! as its stock values took a nose-dive.
It was a bad day on Wall Street for Yahoo.
The on line search engine may have just launched their newly revamped website, but the company's stocks fell 4 percent after investors saw a major decline in ad revenue. Google, however, remains the on line ad revenue leader, as Google's ad revenue rose 3 percent to $5.5 billion in the second quarter.
Yahoo ended their second quarter with 13,000 employees, down 9 percent from 14,300 workers at the same time last year, enabling the company to lower its cash expenses by about 25 percent. Therefore, the company's profit rose 8 percent in the second quarter, but it's the sharp decline in ad revenue that has investors worried.
