Chicago (IL) - Continuing the upswing trend for Myspace, while ringing in more bad news for Yahoo, Comscore’s latest Internet rankings show the social networking site topping the former search leader for the first time.

In November, Comscore reports that Myspace received 38.7 billion page views in the US, compared to 38.1 billion for Yahoo. This marks a 300% increase for Myspace from a year ago, while Yahoo’s growth has been stagnant.

A spokesperson for Yahoo attributed the decline to ongoing projects behind the scenes. "Yahoo continues to be the overall Web audience leader with the largest number of unique users and most time spent online. The page view change in November is related to the use of Ajax and other Web 2.0 technologies across the Yahoo network," she said.

The Comscore ranking, while not necessarily a sign that Yahoo is definitely loosing ground, still cements an increasing trend for Yahoo of not being able to catch up with hotter, newer competitors. The site, which once carried the majority of online searches, fell to half of Google’s use early this year.

The company also continues to lose steam in key Web projects like online video and e-mail. Because of its problems, the company announced a major executive shake-up last week.