Yahoo! Q4 earnings drop 5 per cent

Jan 25, 2012 |

Reuters

San Francisco

Tags:

Yahoo!

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.

Shares of Yahoo were up four cents at $15.73 in after-hours trading on Tuesday.

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.

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