Yahoo! struggles with the launch of search advertisement system

Yahoo! struggles with the launch of search advertisement system

Search engine company Yahoo! has said that they are delaying the launch of their much-awaited upgrade of its search advertising system.

The company has also posted a disappointing revenue outlook for the current year, which is below the market expectations.

These two news alone resulted in company’s share taking a beating at the stock market as it went down by around 13% during the trading sessions.

Yahoo! also forecasted revenues of $4.60 billion to $4.85 billion this year. This is somewhat below the market expectations of $4.69 billion to $4.90 billion.

The company also said that its second-quarter net income fell by 78 percent to $164 million, or 11 cents per diluted share. Yahoo’s shares have lost 29 percent since the start of the year and considering the competition from Google, they cannot afford to make more mistakes by delaying the launches of crucial products in the market.