Yahoo Profit Slips

Struggling internet pioneer Yahoo reported on Tuesday that its second-quarter profit slipped to US$131 million and called on investors to have faith in better times ahead.

Yahoo’s net income for the quarter ending June 30 excluding special items amounted to 10 cents per share, two cents below the consensus Wall Street estimate.

However, revenues for the freshly finished quarter were just shy of $1.8 billion, six percent more than the California company’s second-quarter revenues in 2007.

Facebook Asks Court to Unplug StudiVZ

Facebook is asking a US court to shut down German website StudiVZ on the grounds it is an illegal “knockoff” of the online social networking site.

Facebook wants a federal court in the heart of Silicon Valley to order StudiVZ to stop mimicking the Northern California firm’s website and hand over any money it has made.

“This is a case to stop StudiVZ from operating a knockoff of Facebook,” Facebook lawyers said in a civil suit filed July 18 in US District Court in San Jose.