Yahoo posts net profit of $213 million on revenues of $1.6 billion for 2Q 2010

Yahoo has reported a growth of 51 per cent in its net income at $213 million for the second quarter ended June 30, 2010, as compared to $141 million for the second quarter of 2009. Revenues increased by two per cent from $1.57 billion in the second quarter of 2009 to $1.60 billion in the second quarter of 2010.

According to Yahoo, income from operations in the second quarter of 2010 was $175 million, a growth of 132 per cent as compared to $76 million in the second quarter of 2009. Excluding restructuring charges of $65 million in the second quarter of 2009 and $10 million in the second quarter of 2010, income from operations grew 32 per cent in the second quarter.

“We are pleased that we continued to deliver strong operating income and margin expansion,” Carol Bartz, chief executive officer, Yahoo, has said. “Our search fundamentals are improving and we posted another quarter of healthy display advertising growth.”

Marketing services revenue from Yahoo owned and operated sites of $881 million increased three per cent in the second quarter of 2010, compared to $858 million for the same period of 2009. Marketing services revenue from affiliate sites were $557 million, a seven per cent increase compared to $520 million in the second quarter of 2009.

According to Yahoo, its display advertising revenue on owned and operated sites increased by 19 per cent, while search advertising revenue declined by eight per cent in the second quarter of 2010 compared to the corresponding quarter of the previous year. As of June 30, 2010, Yahoo had a cash, cash equivalents, and short-term marketable securities of $3.79 billion.