(Reuters) - Yahoo Inc reported a lower-than-expected profit, hurt by higher spending to attract users to its websites to better compete with Google Inc and Facebook Inc .
Shares of Yahoo fell 2 percent to $38.78 in after-market trading on Tuesday.
Yahoo has been developing content for its mobile platform to drive user engagement and ad sales, as its core online advertising business struggles in the face of stiff competition.
Excluding items, the company earned 16 cents per share in the second quarter ended June 30, from a year earlier.
Analysts on average had expected a profit of 18 cents per share, according to Thomson Reuters I/B/E/S.
Traffic acquisition costs rose to $200.2 million from $43.8 million a year earlier.
Total revenue after deducting fees paid to partner websites was flat at $1.04 billion.
Search revenue rose 22 percent, while revenue from display ads rose 15 percent.
The net loss attributable to the company was $21.6 million, or 2 cents per share, compared with a profit of $269.7 million, or 26 cents per share, a year earlier.
Up to Tuesday's close, Yahoo shares had dropped 21.3 percent this year.
(Reporting by Abhirup Roy and Kshitiz Goliya in Bengaluru; Editing by Simon Jennings and Maju Samuel)
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