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Yahoo suffers twin financial blows

The search engine suffered an 11 percent stock drop and reported an $1.3 million loss.

After suffering an 11 percent stock drop and announcing a $1.3 million loss Wednesday, Yahoo's stock price was trading slightly lower at midday today.

The company's stock slid $2.1, or 11.4 percent, to a new closing low Wednesday. Then Yahoo reported a loss for the quarter ending June 30, its first quarter as a public company.

This quarter's loss compares to a profit of only $68,000 for the quarter ending March 31. Still, Yahoo's loss of 5 cents a share came in better than expected by most Wall Street analysts, who had predicted a 7 cent per-share loss.

Other search engine stocks, all hit hard Wednesday, were mixed in early trading today. Excite was down 56 cents to $6.81 a share today after losing 62 cents Wednesday. Infoseek lost 25 cents today, sliding to $6.63 after dropping $1.13 yesterday, but Lycos gained 9 cents to $8.96 after dropping 50 cents Wednesday.

The Internet search engines have been pounded hard in the last month. Yahoo, the first of the search engines to go public, has lost $11.88 in the last 29 days, Excite $8.75, Lycos $7.25 and Infoseek $7.13.

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