Yahoo just reported second quarter earnings today. The company reported that GAAP revenue(excluding traffic acquisition costs) was $1.08 billion for the second quarter of 2011, a 5 percent decrease from the second quarter of 2010. Yahoo says that this decrease was primarily due to the change in revenue from the Search Agreement and the associated revenue share with Microsoft. But net earnings per diluted share increased 18 percent to $0.18 in the second quarter of 2011, compared to $0.15 in the second quarter of 2010. Net Income came in at $237 million, which is up 11 percent from the same quarter in 2010. Analysts expected $0.18 per share](http://news.morningstar.com/articlenet/article.aspx?id=387639) and $1.1 billion in revenue](http://www.marketwatch.com/story/yahoo-expected-to-post-mixed-results-2011-07-19?reflink=MW_news_stmp) in the second quarter.
