Yahoo Gets a Boost In Revenue


Yahoo Inc reported a 5.2 percent rise in total quarterly revenue, a sign of strength in its troubled core Internet business it is auctioning off.

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Yahoo's total revenue rose to $1.31 billion in the second quarter ended June 30 from $1.24 billion a year earlier.

After deducting fees paid to partner websites, revenue fell to $841.2 million from $1.04 billion.

Yahoo is in the process of auctioning off its core search and advertising business and reports suggested that a final bidder would be picked on July 18.

Verizon Communications Inc and AT&T Inc are said to be in the running, as well as private equity firm TPG Capital and a consortium lead by Quicken Loans founder Dan Gilbert and backed by Berkshire Hathaway Inc Chairman Warren Buffett. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Saumyadeb Chakrabarty)