Yahoo’s profits rose by 46 percent in the second quarter, aided by nearly a dozen product launches, though sales at the company were still down.
Net earnings for the quarter ended June 30 were $331 million, up from $227 million for the same quarter last year, Yahoo reported Tuesday.
Revenue, however, was $1.14 billion, a 7 percent decline from last year. Subtracting commissions and fees paid to advertising partners, the Internet company’s second-quarter sales were $1.07 billion, about 1 percent down compared to the same period last year.
In its first-quarter earnings, Yahoo, which has struggled in recent years to reinvent itself and maintain its relevance, also reported a 7 percent drop in revenue.
Second quarter net earnings per share were $0.30, approximately a 67 percent increase from $0.18 in the year-ago quarter.