Troubled internet giant Yahoo saw quarterly profits plunge 64 per cent and announced Tuesday that it would cut 10 per cent of its estimated 14,300 staff to help control costs. The internet pioneer reported net income of 54 million dollars, or 4 cents a share, compared to 151 million dollars, or 11 cents a share, in the same period last year. The company said revenue rose slightly to 1.78 billion dollars compared to 1.76 billion dollars in the year-ago quarter. The results were in line with analysts' expectations, while the layoffs had also been widely reported in recent days. The company said the job cuts were designed to help it reduce annual costs of 3.9 billion dollars by more than 400 million dollars.
