Yahoo's 4Q results dragged down by revenue drop

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Associated Press

Posted on January 28, 2014 at 3:01 PM

Updated Tuesday, Jan 28 at 6:07 PM

SAN FRANCISCO (AP) — Yahoo's latest quarterly report shows CEO Marissa Mayer is still having trouble bringing in more revenue as online advertisers spend more money at Google and other rivals.

The fourth-quarter results announced Tuesday serve as the latest reminder of challenges facing Yahoo Inc. The long-slumping Internet company hoped to revive its revenue growth when it lured Mayer away from Google Inc. 18 months ago.

So far, though, Yahoo's revenue remains stuck in a rut. The company's earnings are rising largely because lucrative investments in Asian Internet companies made before Mayer's arrival.

Yahoo earned $348 million, or 33 cents per share, a 28 percent increase from $272 million, or 23 cents per share, a year earlier.

Revenue fell 6 percent to $1.27 billion.

Shares fell nearly 5 percent after results came out.

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