Yahoo stumbles again in 3Q, raising stakes on Verizon deal
SAN FRANCISCO — Yahoo stumbled through another rough patch in the third quarter, ramping up the pressure on the slumping internet company to complete its $4.8 billion sale to Verizon Communications.
The results released Tuesday represented Yahoo's first financial update since announcing in late July its deal to sell its digital operations to Verizon.
The numbers showed Yahoo is profiting from a cost-cutting program that has jettisoned 2,200 workers, or about one-fifth of its workforce, during the past year. The Sunnyvale, California, company earned $163 million, or 17 cents per share, more... read more