Yahoo profit falls in 3Q

Cory Bergman October 17th, 2006

Yahoo profit fell sharply in the third quarter due to a dip in display and search advertising. “I am not satisfied with our current financial performance and we intend to improve it,” said CEO Terry Semel. He said an upcoming technology called Project Panama (which is now live in beta) will help Yahoo reduce the gap with Google in search ads. And what about the Google-YouTube deal? “I came out with a grave concern about how severe the copyright violations could be,” he said. “It could be a gnarly problem if lawsuits come. And I did not want to put my company in that type of risk.”