Yahoo reported a 5 percent drop in revenue for the third quarter, with the money it makes from display and search ads both continuing to decline.
Revenue for the period ended Sept. 30 was US$1.2 billion, down 5 percent from a year earlier, Yahoo said Tuesday. Excluding traffic acquisition costs, revenue was down 1 percent.
Its profit for the quarter was $297 million, much lower than last year, when it made a big one-off gain from selling shares in China’s Alibaba Group. On an operations basis, Yahoo’s profit for the quarter was $93 million, a drop of 39 percent.