Yahoo shares fall after sales miss analysts’ estimates

YAHOO!, owner of the second most popular US internet search engine, has reported sales that missed analysts’ estimates as marketers devoted online ad spending to rival sites. The shares fell in late trading.

Excluding revenue passed on to partner sites, Yahoo had sales of $1.13 billion (€877 million), the company said yesterday. That compares with the average estimate of $1.16 billion among analysts surveyed by Bloomberg.

Yahoo is grappling with competition from companies such as Google and Facebook. Visitor time spent on Yahoo fell to 2 hours and 11 minutes in June, from 2 hours and 56 minutes in December, according to Nielsen.