(Reuters) ? Yahoo Inc's net revenue and profit fell slightly in the fourth quarter, the struggling Internet company's last quarter before new Chief Executive Scott Thompson took the reins.
Despite its revenue and profit drop, shares of Yahoo were up four cents at $15.73 in after-hours trading on Tuesday, a sign that investors were pleased that the company was able to hold it together during a tumultuous quarter that saw the surprise resignation of its co-founder Jerry Yang.
Yahoo said it earned $296 million in net income in the three months ended December 31, or 24 cents a share, compared with $312 million, or 24 cents a share, in the year-ago period.
Analysts polled by Thomson Reuters I/B/E/S were expecting 24 cents per share in profit.
Yahoo, which fired former CEO Carol Bartz in September and appointed Thompson in January, projected that its net revenue in the first quarter would range between $1.025 billion and $1.105 billion.
In the fourth quarter, Yahoo reported net revenue, which excludes fees that Yahoo shares with Web partners, of roughly $1.17 billion, compared with $1.205 billion the same time last year.
Display ad revenue, Yahoo's main source of revenue, totaled $612 million for the quarter. Search ad revenue for the quarter came in at $465 million, $48 million of which stemmed from its partnership with Microsoft.
Yahoo said it experienced year-over-year declines in both its search and display ad business during the quarter. In an interview with Reuters, Tim Morse, Yahoo's chief financial officer, attributed the softness in its display ad business to "macroeconomic weakness," particularly in Europe.
(Reporting By Alexei Oreskovic; Editing by Bernard Orr)
the lion king 3d missoni maker faire the hub the hub pat robertson evan rachel wood
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.