Yahoo's second-quarter results didn't give investors a reason to celebrate the completion of CEO Marissa Mayer's first year running the Internet company. Economic Times reported that the numbers released Tuesday showed Yahoo Inc's earnings are still rising, but they also highlighted the challenges facing the Sunnyvale, California, company as it loses ground to rivals Google Inc and Facebook Inc in the online advertising market that generates most of their revenue. 

Wall Street focused on Yahoo's revenue problems instead of its earnings gains. The company's stock dipped 48 cents, or nearly 2 per cent, to $26.45 in extended trading after the report came out.

The report added that despite that downturn, Yahoo's shares have surged nearly 70 per cent since Mayer defected from a top job at Google to attempt a turnaround at one of the Internet's best-known brands.

Read the complete Economic Times report here