Yahoo Q4 revenue declines, shares slip
Published 28/01/2014 | 21:21
Yahoo Inc's revenue during the last three months of 2013 declined for the fourth consecutive quarter as weak online display ad sales weighed on results.
Shares of Yahoo were down 5.8pc at $36 in after-hours trading on Tuesday.
Yahoo said fourth-quarter revenue was $1.266bn, compared to $1.346 billion in the year-ago quarter.
Yahoo said that revenue from display ads was down 6pc year-over-year in the fourth quarter, while the price per ad, excluding Korea, declined 7pc.
Net income of $348.2m rose from the $272.3m earned in the year-ago period. Excluding certain items, Yahoo said it earned 46 cents a share, beating the average analyst expectation of 38 cents, according to Thomson Reuters I/B/E/S.