Yahoo shares fall after missing profit expectations
Shares of Yahoo fell 3% after-hours Tuesday after the company missed second-quarter profit expectations. Yahoo reported a net loss of $21.6 million, or a loss of 2 cents per share, compared to earnings of $270 million, or 26 cents per share in the year-earlier period. Yahoo reported adjusted earnings per share of 16 cents, below the FactSet consensus of 18 cents. The company reported sales of $1.24 billion, above the FactSet consensus of $1.03 billion.The company highlighted its revenue performance and reducing its workforce to less then 11,000 full-time employees as evidence of a "more efficient business." The stock has fallen 11% in the past three months.
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