Yahoo Misses Estimates, Shares Fall
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Yahoo! Inc. declined after forecasting sales in the current quarter below analysts’ estimates, a sign Chief Executive Officer Marissa Mayer’s turnaround effort is still a work in progress.
Yahoo expects third-quarter revenue, excluding sales shared with partner websites, of $1 billion to $1.04 billion, the company said Tuesday. That compares with the $1.07 billion average of analysts’ estimates compiled by Bloomberg.