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July 21, 2010

Yahoo! Q2 revenue increases marginally to $1.6bn

Expects net revenue to be in the range of $1.57bn to $1.65bn for Q3 2010

By CBR Staff Writer

Yahoo! has reported total net revenue of $1.6bn for the second quarter of 2010, an increase of 2% compared to $1.57bn for the same period last year.

Revenue from marketing services grew by 4% year-over-year to $1.44m, while revenues from fees decreased by 20% to $162m.

The company posted an operating income of $175.3m for the second quarter of 2010, compared to $75.7m for the same period last year.

For the second quarter ended June 30, 2010, the company posted net income of $213.3m, an increase of 51% compared to a net income of $141.3m for the same quarter a year ago.

Geographically, North America revenue decreased by 4% year-over-year to $1,133m in the second quarter of 2010. While revenue from Europe, the Middle East and Africa (EMEA) decreased by 7% to $140.5m. However, revenue from Asia Pacific increased by 39% to $327.6m.

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

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Yahoo! anticipates net revenue in the third quarter of 2010 to be in the range of $1.57bn to $1.65bn.

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