Struggling Internet pioneer Yahoo! reported Tuesday that third quarter net profit dove 26 percent from a year earlier as revenue sank.
Yahoo! had net earnings of $293 million on revenue of $ 1.072 billion in the quarter to September 30, compared with $396 million in profit on $1.124 billion in revenue in the same period last year.
"We're pleased that revenue, operating income and EPS (earnings per share) were all above consensus this quarter," said interim Yahoo! chief executive Tim Morse.
"My focus, and that of the whole company, is to move the business forward with new technology, partnerships, products, and premium personalized content -- all with an eye toward growing monetization," he said.
Yahoo!'s stock price climbed more than three percent to $15.97 per share in after-hours trade following the report, which beat Wall Street expectations.
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