Yahoo: It Coulda Been Worse

The Net portal impressed investors in search advertising and cost controls, though the outlook is still cloudy

Thanks to aggressive cost-cutting and surprising strength in search advertising, Yahoo! (YHOO) pleased investors on Oct. 21 with third-quarter earnings that managed to meet expectations. But the performance is cold comfort to some 1,500 Yahoo employees who will be laid off as the company looks to slash its $3.9 billion in annual expenses by more than 10% before the end of the year.

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