Yahoo shares drop 11 pct after results disappoint

Yahoo Inc. shares fell 11 percent on Wednesday after the Web media company reported earnings that missed Wall Street targets, reflecting a growing market share gap with rival Google Inc.

"Yahoo is losing share in the rapidly expanding online ad market as a result of shifting consumer behavior, fast-moving competitors, and technological slip-ups," Cantor Fitzgerald analyst Derek Brown said in a note to clients.

He and other analysts said it appeared that the impact of Yahoo's new Web advertising system, dubbed Panama, has been slower to materialize than investors had hoped.

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- Posted: 2007-04-18 10:29:50

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