The day after Yahoo! lost more than a fifth of its market value in one day, Google announces a 77% increase in sales from last year.

Yahoo revealed that their long awaited new ad platform codename ‘Project Panama’ would be delayed until at least Q4. Yahoo’s stock prices hit a two year low from the news. Investors become concerned that the delay would lead to further weak results later in the year as Google continue to increase their already sizeable market share.

It was not all bad news for Yahoo however. Their revenues were actually up by 26% from last year, meaning they will continue to be #2 for sometime yet.

What does this mean for advertisers? Well, we shouldn’t expect any online accounts to be ported over to their new platform untill at least early next year judging by the latest news.

Googles results were not of great suprise and in stark contrast to those of Yahoo as the company posted net income of $721 million (£390M). The figure was up by 110% from the same period last year ($342). Google CE Eric Schmidt explains that Googles strong performance is down to a “..clear focus on increasing the quality of user experience, particularly in search and ads.”