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Yahoo (NASDAQ:YHOO): Display Ad's Biz +19%

|Includes: Altaba, Inc. (AABA)

Yahoo! Inc. (NASDAQ:YHOO) today reported results for the quarter ended June 30, 2010. Revenue was $1,601 million for the second quarter of 2010, a two percent increase from the second quarter of 2009. Income from operations for the second quarter of 2010 was $175 million, compared to $76 million in the second quarter of 2009. Excluding restructuring charges of $65 million in the second quarter of 2009 and $10 million in the second quarter of 2010, income from operations grew 32 percent in the second quarter.
Net income per diluted share for the second quarter of 2010 was $0.15, compared to $0.10 in the second quarter of 2009.

“We’re pleased that we continued to deliver strong operating income and margin expansion,” said Yahoo! Chief Executive Officer Carol Bartz. “Our search fundamentals are improving and we posted another quarter of healthy display advertising growth.”

Financials at a Glance
Quarterly GAAP Results (in millions, except percentages and per share amounts)
Q2 2009 Q2 2010 Percent Change
Revenue $1,573 $1,601 2%
Income from operations $76 $175 132%
Net income attributable to Yahoo! Inc. $141 $213 51%
Net income attributable to Yahoo! Inc. common stockholders per share - diluted $0.10 $0.15 53%

Business Highlights
Display advertising on Owned and Operated sites continued to perform well, growing 19 percent in the quarter compared to the second quarter of 2009. Operating margin expanded from 4.8 percent in the second quarter of 2009 to 11.0 percent in the second quarter of 2010. Excluding restructuring charges of $65 million in the second quarter of 2009 and $10 million in the second quarter of 2010, operating margin expanded from 8.9 percent to 11.6 percent. Yahoo! deepened its integration with Facebook through Yahoo! Pulse – now users can link their Yahoo! and Facebook accounts and view and share updates with friends across both networks. Yahoo! launched new Mail and Messenger apps for the Android platform, as well as HTML-5-based Mail and News sites for the iPhone. Samsung and Yahoo! extended their strategic global partnership to distribute Yahoo!'s industry-leading services on millions of Samsung mobile devices - including those running Samsung bada and Android platforms. Yahoo! acquired Associated Content Inc., extending Yahoo's ability to provide high quality, personally relevant content for the benefit of its users and advertisers. Nokia and Yahoo! announced a worldwide strategic alliance, extending the reach of Yahoo!’s industry-leading online services. Yahoo! announced that it will bring hit games from social gaming company Zynga to the Yahoo! network. Yahoo! acquired Koprol, Indonesia’s popular location-based social network. Yahoo! expanded its partnership with Sony to increase the number of countries where Yahoo! TV Widgets are available, enabling Yahoo! to connect millions of additional consumers on their TVs. Yahoo! hosted its third annual Hadoop Summit with more than 1,000 developers. Hadoop is an open source technology pioneered by Yahoo! for big data sets and cloud computing, helping companies get value from their data and better manage their businesses. Brad Smith, president and CEO of Intuit, and Patti Hart, CEO of International Game Technology (NYSE:IGT), joined Yahoo!’s Board of Directors. Blake Irving joined as Chief Product Officer, bringing to Yahoo! large scale Internet expertise and will lead Yahoo!’s products organization, which is responsible for the vision, strategy, design and development of Yahoo!’s global consumer and advertiser product portfolio.

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