With Microsoft’s $47.5 billion takeover bid off the table and his company’s stock price down 20 percent during his 13-month reign as Yahoo’s CEO, Jerry Yang has a data for his exasperated shareholders: Things aren’t as bleak as they look.

“This company is doing just fine in a rigid economy and a rigid environment,” Yang told The Associated Press in an interview late Tuesday. “We think there are a lot of good things to come still.”

Yahoo Inc.’s second-quarter results

didn’t supply much reason for enthusiasm.

But at least they weren’t as poor as many investors feared after Yahoo spent months sparring with Microsoft Corp. and dissident shareholder Carl Icahn while plus trying to manage with a weakening U.S. economy that’s form it tougher to sell online advertising — the company’s lifeblood.

“It was a ‘rice-cracker’ quarter,” said Canaccord Adams analyst Colin Gillis. “It didn’t taste great, but it wasn’t totally horrible […]

Orginal post by Top Tech News