Internet News Byte: Yahoo! Second-Quarter Net Revenue Dips, Profit Beats Street

Wochit 1:06 mins

Yahoo Inc's second-quarter net revenue was down slightly as the Internet company posted adjusted profit that was ahead of Wall Street targets. Shares of Yahoo, which have gained about 70 percent since Chief Executive Marissa Mayer took the helm a year ago, were down 2 percent. In 2008, lawyers for Web company Yahoo sought to to avoid becoming part of the National Security Agency?s PRISM surveillance program by fighting it in a case before the secretive US Foreign Intelligence Surveillance Court. Now court ruled that it would unseal documents related to that case so that Yahoo could prove that it objected to participating in the notorious PRISM program Not much had been going right for Yahoo until it lured Marissa Mayer away from Google to become its CEO last summer. The move is shaping up as the best thing to happen to Yahoo since 2005 when it invested $1 billion in what was then a little-known Internet company in China, Alibaba.

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