This story was written by Joseph Weisenthal.
Here's the quick read on Yahoo's (NSDQ: YHOO) just-released Q2 numbers. Revenue ex-TAC came in at $1.34 billion, up 8 percent from last year, but a little behind analyst estimates of $1.37 billion. Adjusted net income was $139 million, just shy of the $140 million analysts had been expecting. Revenue on Yahoo's O&O network was up 14 percent to $1.01 billion, again, a little shy of the 15 percent some analysts had been anticipating. Why the miss? Not totally clear yet. CFO Blake Jorgensen touted the company's "solid results" despite the weak economy. Expect to hear a lot more on this during the call 5:00 (ET) call.
Looking ahead to the next quarter, the company is calling for revenue of $1.78-$1.98 billion, though that's before deducting TAC. This quarter's gross revenue was $1.79 billion, so the outlook is flat at the low end.
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By Joseph Weisenthal