SAN FRANCISCO — Carol Bartz, Yahoo’s chief executive, is known for peppering her public presentations with the odd expletive or two. But her conference call Tuesday to discuss Yahoo’s second-quarter financial results was entirely family-friendly. Then again, Ms. Bartz did not have much to swear about.

Yahoo’s revenue declined 13 percent in the second quarter as advertisers continued to reduce spending in the downturn. But cost-cutting initiatives helped to soften the blow, and profits climbed nearly 8 percent, beating analysts’ expectations.

Yahoo also said that it planned a new round of investment in products and a rebranding campaign, which would lead to a drop in profit in the current quarter. Investors reacted by sending shares down nearly 3 percent in after-hours trading.

“Over all, the long and protracted turnaround process continues,” said Jeffrey Lindsay, an analyst with Sanford C. Bernstein & Company. “We don’t see a catalyst that is going to turn things around soon.”

Yahoo continues to discuss a search and advertising partnership with Microsoft that would create a more viable rival to Google. The talks have intensified recently, according to people briefed on them.

Both companies have declined to discuss their talks publicly and, for the first time since Ms. Bartz became chief executive in January, analysts did not ask her about them. Read more…

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