Yahoo tanks, plans for cuts

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yahoo_dark_small.jpgADOTAS — The display ad dominated company’s profit dropped 78 percent to $118 million from $539 million in the same period a year earlier.

Overall revenue was down 13 percent to $1.58 billion and marketing services revenue down 12 percent. The company also announced it would cut 5 percent of its 13,500-person work force. But before you say it’s wholesale cutting, CEO Carol Bartz has a few bright spots of order, saying that it is a “natural outgrowth of the work we’re doing to streamline our structure, globalize products, slim our portfolio and eliminate duplications.”

According to Kara Swisher, the Silicon Valley-based company estimated that revenue would be between $1.43 billion and $1.63 billion, higher than Wall Street had been expecting.

Here’s the slide show.

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