WebProNews

Yahoo's released its second quarter earnings report, and the news isn't all that great.  While the company pretty much managed to match and/or beat analysts' official expectations, some discouraging numbers came out, as did some less than pleasant predictions about the future.

Let's start with the positive points, at least.  Analysts thought Yahoo might post $1.55 billion in gross revenue and earnings per share of $0.08.  Instead, it managed to post $1.57 billion and $0.10, respectively.  Net income actually rose by 8 percent year-over-year.

Also, Carol Bartz chose to focus on stuff besides numbers by stating, "We established a clear, simple vision to be the center of people's lives online, and we're backing that vision with important initiatives to create 'wow' experiences for our users.  We're confident that this vision will put us on the right path to growth and profitability long term.  Our new homepage is a perfect example of our efforts to create innovative products aimed at increasing user engagement while offering the most compelling advertising proposition in the industry."

But it's hard to be too sunny.  Yahoo saw a 15 percent decline in search advertising revenue, along with a 14 percent decline in display advertising revenue.  And with respect to next quarter, the official report said the company expects overall revenue to be down.

Yahoo may have disappointed investors by not mentioning Microsoft, as well.

So after dropping 1.53 percent during the normal day, Yahoo's stock is down 2.39 percent at the moment in after-hours trading.