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News Summary: Cause for hope, worry in Yahoo's 2Q

The Associated Press

HAPPY ANNIVERSARY: Yahoo marked the completion of CEO Marissa Mayer's first year on the job with a second-quarter report that provided reasons for hope and worry, too.

THE POSITIVE: The results released Tuesday showed Yahoo Inc.'s climbed 46 percent, thanks largely to cost cutting and a lucrative investment in rapidly growing Chinese Internet company Alibaba. Yahoo also told investors that it intends to spend up to $1.9 billion buying back its stock, a move that could help boost the price.

THE NEGATIVE: Yahoo's revenue dipped 1 percent after subtracting ad commissions. That underscored Yahoo's ongoing inability to sell more of the online advertising that generates most of the company's revenue.