For the quarter which ended June 30, revenue excluding traffic acquisition costs was $1,081 million for the period, flat compared to the second quarter of 2011. GAAP revenue was $1,218 million for the second quarter of 2012, a 1% decrease from the second quarter of 2011.
On a GAAP basis, income from operations decreased 71% to $55 million in the second quarter of 2012, compared to $191 million in the second quarter of 2011.
On a GAAP basis, net earnings per diluted share was $0.18 in the second quarter of 2012.
The company said the the following were the key developments of the quarter
— Display revenue ex-TAC was $473 million, a 1 percent increase compared to $467 million for the second quarter of 2011.
— GAAP display revenue was $535 million, a 2 percent increase compared to $524 million for the second quarter of 2011.
— Search revenue ex-TAC was $385 million, a 4 percent increase compared to $371 million for the second quarter of 2011.
— GAAP search revenue was $461 million, a 1 percent decrease compared to $467 million for the second quarter of 2011
Yahoo! has traded in a range between $15 and $15.50 for most of the last three months
Douglas A. McIntyre