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Yahoo Sales Miss Estimates as Competitors Siphon Ad Revenue

Yahoo! Inc., the most-visited U.S. Web portal, reported revenue that missed estimates as marketers favored competing sites and a sales-team shakeup made it harder to clinch advertising orders. Shares fell in late trading.

Excluding sales passed on to partner sites, second-quarter revenue slipped 4.6 percent from a year earlier to $1.08 billion, Sunnyvale, California-based Yahoo said in a statement. Analysts surveyed by Bloomberg had estimated $1.11 billion.