Yahoo Japan posts higher Q2, expects strong Q3

"Yahoo Japan Corp. (4689.T: Quote, Profile, Research) said on Friday its quarterly net profit grew 29 percent, helped by its online auction and Web advertising businesses, and forecast strong results in the current quarter."

The report comes a day after U.S. Web search leader Google Inc. (GOOG.O: Quote, Profile, Research) posted a surge in quarterly profit that topped Wall Street expectations, helped by what it called a "seachange" shift to online marketing from print and broadcast.

California-based Yahoo Inc. (YHOO.O: Quote, Profile, Research) , which owns 33.5 percent of Yahoo Japan, on Tuesday reported steady profits for the July to September period and moderately raised its revenue target for the current quarter.

[Reuters]