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Yahoo! Inc. on Wednesday reported a small second-quarter profit, beating revised Wall Street expectations by a penny as new CEO Terry Semel outlined plans to boost revenue.
The Internet media company produced strong growth in user and usage numbers, but the advertising-dependent company was hit hard by the softening ad market. Pro forma net income for the quarter ending June 30 was $8.7 million, or a penny a share, beating industry forecasts of a break-even second quarter.
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