Yahoo Inc.’s third-quarter profit were down slightly compared to the same period last year but their is hope that co-founder Jerry Yang will deliver on his promise to turn around the slumping Internet powerhouse.Gross revenue rose 12 percent to $1.77 billion. Excluding payments to advertising partners, revenue rose 14 percent. Sales on its own site grew 24 percent, powering results, while efforts by the company to curtail low-quality ads among network affiliates hurt revenue growth on non-Yahoo properties.

The idea that Yang can bring the company back in line lifted Yahoo’s stock price nearly 9 percent in aftermarket trading.

Socialize