Yahoo has announced that it has suffered its 13th consecutive slump in quarterly profits, with news that its profit is down a further 5 per cent.

This takes the internet giant's profits to $296m (£189m) – a figure that doesn't impress Yahoo's new CEO Scot Thompson.

Thompson, who is the former president of PayPal, said of the quarterly figures: "There is no question we need to do better and we will."

On the offensive

While the slump doesn't put Yahoo's financials in the best light analysts aren't too worried about the company. This is because it managed to meet expectations for its earnings, although it missed its revenue predictions.

When it comes to revenue, it fell by 13 per cent to $1.17 billion (£750 million).

Shares in Yahoo dipped by 9 per cent but Thompson seems to be quick to steady the ship, explaining in Yahoo's earnings call: "When it comes to making decisions, I make them quickly and then push to move fast, fast, fast.

"We will get speed back into the equation and move aggressively. To me that's how we get to playing offense rather than defense."

It's not known if Thompson was wearing American football attire while giving this rousing speech, but we like to think so.

The first all-you-can-eat streaming service for audiobooks has arrived, bringing unlimited access to 11,000 titles for a monthly fee of $24.95.

Audiobooks.com allows members to stream as many books as their ears can muster via the web-browser or through forthcoming smartphone apps.

The service promises seamless listening between all devices and new users can sign up for a free 7-day trial now.

Audiobooks.com will rival the Amazon-owned Audible service which starts at $7.95 a month, but only allows access to one or two books per month.

Full streaming

Whereas Audible forces users to download files to their device, Audiobooks will allow full streaming over the web.

The apps for iOS and Android are in the works, but those users with iOS 5 and Android Gingerbread will be able to stream directly from the Audiobooks.com browser site.

Support for BlackBerry and Windows Phone devices is also planned for the near future.

Audiobooks' offering will be seen as the Spotify of the book world, but with a selection of thousands, compared to the millions on offer from the music streaming giant, at more than double the price of a premium subscription, that's where the similarities end.