Net profit rose 46 percent from a year ago to $331 million, slightly better than expected, but revenues excluding payments to partners fell one percent to $1.07 billion, the Internet giant said.
"I'm encouraged by Yahoo's performance in the second quarter. Our business saw continued stability, and we launched more products than ever before, introducing a significant new product almost every week," said Mayer.
Mayer cited the company's new Yahoo News, the new Yahoo Sports app , the redesigned Yahoo search , the new Flickr , the new Yahoo Mail for tablet, the Yahoo Weather app , and the company's new Yahoo app with Summly . "This quarter drove tremendous improvements in our product line and our users responded with increased usage and engagement," she said.
She said the quarter was "one of the most productive in the history of Yahoo" The company's strategy is based on "people and products, then traffic and revenue," she said, and that traffic is now growing again.
Mayer was hired from Google a year ago to help turn around the Internet pioneer, which had seen its fortunes fade. Since then, Yahoo has been on a buying spree, and has also sold shares in China's Alibaba to boost its cash. Its most publicized deal was a billion- dollar acquisition
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