(Corrects average Street forecast on EPS to 22, not 23, cents)
* Q2 net rev $1.081 bln vs $1.076 bln year-ago
* Q2 EPS 18 cents, unchanged year-on-year
* Shares rise slightly
By Alexei Oreskovic
SAN FRANCISCO, July 17 Yahoo Inc,
looking to revive its fortunes with Monday's hiring of a new
chief executive from Google Inc, reported flat net
revenue and a slight decline in profit during the second
Yahoo reported earnings on the first day of work for new CEO
Marissa Mayer, a longtime Google executive who is Yahoo's third
chief in twelve months. Mayer is not expected to participate in
Tuesday's post-earnings release conference call.
Shares of Yahoo rose 10 cents to $15.70 in after-hours
trading on Tuesday.
Net revenue, which excludes fees paid to partner websites,
was $1.081 billion in the three months ended June 30, compared
to $1.076 billion at this time last year.
Analysts polled by Thomson Reuters I/B/E/S were looking for
net revenue of $1.096 billion.
Yahoo's second-quarter net income was $226.6 million, or 18
cents a share, down slightly from roughly $237 million, or 18
cents a share, in the year ago period.
Excluding certain items, Yahoo said it earned 27 cents a
share, above the 2 2 cents a share expected by analysts.
Mayer faces a significant challenge in trying to rejuvenate
the ailing Web pioneer which has seen its revenue growth stall
as consumers increasingly spend time on social networking
websites such as Facebook and Twitter.
Yahoo said its revenue from online display ads increased 2
percent year-on-year to $535 million, while its search revenue
decreased 1 percent to $461 million.
Mayer's hiring as CEO caps a tumultuous year at Yahoo. In
May, Scott Thompson resigned as CEO after less than 6 months on
the job as a controversy flared up over his academic
Thompson replaced the outspoken and occasionally
foul-mouthed Carol Bartz, who was fired in September after
failing to revitalize Yahoo.
(Reporting By Alexei Oreskovic; Editing by Bernard Orr)