Comments
Yahoo! reported a slight dip in fourth quarter earning on Tuesday, but profits rose 28 per cent from the year earlier quarter.
The web pioneer, which is struggling under celebrity CEO Marissa Mayer to return to its former glory, said that adjusted revenue, minus traffic acquisition costs, was $1.2 billion, down from $1.22 billion in the year earlier quarter.
Profits were $352 million, up from $274 million 12 months ago.
Shares in the company dropped more than 3 per cent in after-hours trading as investors soured on the company’s performance, in particular over a 6 per cent drop in display ad revenue.
“I’m encouraged by Yahoo’s performance in Q4 and 2013 overall. We saw continued stability in the business, and our investments allowed us to bring beautiful products to our users and establish a strong foundation for revenue growth,” said Mayer.
“We are extremely heartened by the year-over-year traffic increase we experienced in 2013, an early sign of return on our investments and the acquisitions we’ve made.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.