Yahoo 3Q profit soars despite 12 pct revenue drop

Yahoo 3Q profit soars despite 12 pct revenue drop

Yahoo Inc. may finally be pulling out of a three-year slump that cast aside two CEOs and spurred a cost-costing spree that laid off about 2,000 workers.

The purge is the main reason Yahoo's third-quarter profit more than tripled from last year to soar past analysts' relatively low expectations for the troubled Internet company.

But the results released Tuesday also showed Yahoo's revenue fell by at least 12 percent for the third consecutive quarter. The revenue rut means Yahoo still has a long way to go on its comeback trail.