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Yahoo said its profit rose 36% as the struggling Internet pioneer showed signs of continuing its slow but steady rebound under Mayer. But its shares fell after-hours on signs of decay in sales of display ads.

Shares in AOL have jumped 14% after the US internet firm reported a sharp rise in advertising revenues. Advertising sales jumped 7% to $340m (£212m), boosting net profit for the third quarter to $20.8m, compared with a loss of $2.6m a year ago.

Competition's all relative. Yahoo, Microsoft and AOL all compete for ad dollars, but they all agree that marketers ought to put their budgets into premium content, not search or social.

AOL is preparing to introduce a larger, splashier ad format that it hopes will attract more ad dollars from big brands and help revitalize its business.

Yahoo (YHOO) and Gannett (GCI) announced today that they have formed a local advertising partnership.

"The Lam/Suen family was allegedly using click fraud to make more money for their site WoWMine.com—mainly by clicking competitors' ads until their competitors' ad budgets were exhausted.

The possible sale of Yahoo’s HotJobs would be a huge blow for members of the Yahoo (NSDQ: YHOO) Newspaper Consortium, as the alliance is the only source of help-wanted-ad revenue for nearly 200 papers. But that’s apparently not deterring papers from joining.