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Yahoo Profit Rise 11%, But Revenue Drops |
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Internet company, Yahoo announced Tuesday its best quarterly financial performance since it hired new boss Carol A. Bartz as chief executive a year ago. Yahoo reported net income in the fourth quarter of $153 million, or 11 cents a share, the company had posted a loss of $303 million in the same quarter last year. If not for charges tied to a proposed search partnership with Microsoft, Yahoo said it would have made 15 cents a share in the quarter.
Yahoo's revenue fell 4 percent, to $1.73 billion. Yahoo's revenue has now declined in five consecutive quarters.
"The fourth quarter marked a strong finish to 2009, which was a transformative year for Yahoo,” said Ms. Bartz in a prepared statement.
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