Third-quarter earnings of online search engine operator Yahoo Inc. declined slightly as rising operating expenses overshadowed an increase in revenue.
For the quarter ended Sept. 30, Yahoo earned $151.3 million (106.93 million EUR), or 11 cents per share, compared with $158.5 million (112.01 million EUR), or 11 cents per share, in the year-ago quarter.
The company's revenue for the period totaled $1.77 billion (1.25 billion EUR), compared with $1.58 billion (1.12 billion EUR) in the same quarter last year.
The results beat expectations of analysts polled by Thomson Financial, who, on average, expected earnings of 8 cents per share on revenue of $1.24 billion (0.88 billion EUR).
Yahoo's total operating expenses for the period rose to $877.1 million (619.86 million EUR), compared with $696.9 million (492.51 million EUR) in the same quarter last year.
The company said its sales and marketing expenses increase to $410.9 million (290.39 million EUR) from $331 million (233.92 million EUR), while its product development expenses also rose to $274.7 million (194.13 million EUR) from $202.1 million (142.83 million EUR).
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