Yahoo! and Visa partner; Yahoo! reports 2nd-quarter loss

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Yahoo! and Visa International announced today a strategic partnership to increase their electronic commerce activities. The partnership is more a marketing alliance, and revises a co-owned electronic site announced earlier this year.

Among the projects announced were a co-branded Yahoo! Visa card and the development of the "Visa Shopping Guide by Yahoo!" which will be a list of merchant and product information designed to make shopping via the Web easier. Visa will become the preferred card for Yahoo!, which will promote it online.Yahoo! also updated its second-quarter earnings to reflect a buyback of stock from Visa in the new deal. Instead of the previously reported profit of $610,000, or 2 cents per share, Yahoo! is now reports a loss of $20.5 million, or 74 cents per share.

Copyright July 1997, Crain Communications Inc.

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