BUSINESS BRIEFING
Times Wire Reports
Yahoo Inc. may finally be pulling out of a three-year slump that cast aside two chief executives and spurred a cost-costing spree that laid off about 2,000 workers.
The purge is the main reason Yahoo’s third-quarter profit more than tripled from last year to soar past analysts’ relatively low expectations for the troubled Internet company.
The Sunnyvale, Calif., company earned $186 million, or 13 cents a share, compared with $54 million, or 4 cents, a year earlier. Revenue fell 12% to $1.58 billion.
