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| Yahoo boss hails 'great progress' despite loss | Yahoo boss hails 'great progress' despite loss |
| (about 1 hour later) | |
| Yahoo chief executive Marissa Mayer says the company has made "great progress" despite reporting a loss for the second quarter. | Yahoo chief executive Marissa Mayer says the company has made "great progress" despite reporting a loss for the second quarter. |
| The search and advertising firm reported a net loss of $21.6m in the quarter to 30 June, but said revenue rose 15% to $1.04bn. | The search and advertising firm reported a net loss of $21.6m in the quarter to 30 June, but said revenue rose 15% to $1.04bn. |
| In the same period a year ago, it reported a profit of $269.7m. | In the same period a year ago, it reported a profit of $269.7m. |
| "Yahoo's transformation continues to make great progress," said Ms Mayer. Shares fell 2% in after-hours trade. | |
| Ms Mayer, who has been at the helm for three years, has been trying to expand the firm away from desktop computer adverts into mobile and video adverts, in a move aimed at increasing sales. | |
| The firm said revenue growth from its "Mavens investment business" - the division which includes mobile, video, native and social adverts - had grown 60% in the second quarter to nearly $400m. | |
| It also said that display advertising saw the "most substantial" revenue increase since 2010. |