Yahoo revenue rises on search advertising
(Reuters) - Yahoo Inc (YHOO.O) reported net revenue of $1.22 billion in the fourth quarter, up 4 percent year-on-year, as an increase in search advertising revenue offset weakness in the Web portal's display ad business.
Net revenue excludes fees shared with partner websites.
Yahoo shares rose 4.5 percent to $21.22 in after hours trading on Monday.
"We got the revenue acceleration we were hoping for. Display was down, but search is doing better" said Sameet Sinha, an analyst at B. Riley Caris.
"As long as in the near-term things are not bad, I think the stock will generally act positively while we wait for Marissa Mayer to deliver," said Sinha.
The company said its fourth-quarter net income was $272.3 million, or 23 cents per share, versus $295.6 million, or 24 cents per share in the year-ago period.
Excluding certain items, Yahoo said it had earnings per share of 32 cents, versus the average analyst expectation of 28 cents according to Thomson Reuters I/B/E/S.
Yahoo said that search revenue increased 4 percent to $482 million in the fourth quarter, while display advertising revenue fell by 3 percent to $591 million.
Chief Executive Marissa Mayer is moving to revive the company's fortunes after several years of declining revenue. Yahoo's stock has risen roughly 30 percent since she became CEO, reaching its highest levels since 2008.
Yahoo said it repurchased $1.5 billion worth of shares during the fourth quarter. (Reporting by Alexei Oreskovic; Editing by Phil Berlowitz)
- Tweet this
- Share this
- Digg this
- One dead, one wounded in shooting in Chicago financial district
- Israel, Palestinians locked in vicious circle of Gaza wars
- U.S. advises against non-essential travel to countries hit by Ebola
- Millions of jellyfish-like creatures wash up on western U.S. beaches
- UPDATE 3-Apache to quit gas projects in Australia and Canada
The United States said on Thursday it was hopeful that differences between India and much of the rest of the world over a major trade agreement could be resolved in time, with only hours remaining before the deal has to be signed. Full Article
ONGC, Oil India bid $1.5 bln for stake in Murphy Oil's Malaysia assets - sources Full Article