 Yahoo derives 80% of its sales from advertising |
The new chief executive of Yahoo has said he is working on a "strategic plan" for the firm after reporting a sixth quarterly profit fall. Earnings for the past three months to the end of June fell to $161m (�78.6m), down from $164m last year.
The decline was in line with Yahoo's recent lowered forecast, blaming weak display advertising revenue.
It also cut full-year income forecasts by up to $200m, in a sign that sluggish trading would continue.
Shares in the internet giant declined almost 4% after trading in New York had finished - a sign that they could open lower when Wall Street begins trading on Wednesday.
Recovery in sight?
 |  I intend to spend the next 100 days focused on mapping out a strategic plan |
The value of Yahoo's shares has fallen by about 30% since the beginning of 2006, reflecting its struggle to compete against rival Google for the online search market.
It has also lost advertising display sales as corporate brands discover the benefits of using online social websites, such as Facebook.
But hopes are high that a new management team, led by co-founder Jerry Yang, will revive the flagging fortunes of the company, which has been criticised recently for lacking innovative ideas and relevance.
Under his leadership, Yahoo has already announced the purchase of a sports website Rivals.com and said it would overhaul of the way it sells advertising in the US, integrating its display and web search advertising operations.
"I intend to spend the next 100 days or so focused on mapping out a strategic plan," Mr Yang said.
"I may not have the answers, as of today, but I have a pretty strong idea of where I want to go."
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