SAN FRANCISCO – 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 per cent increase from $272 million, or 23 cents per share, a year earlier.
Revenue fell 6 per cent to $1.27 billion.
Shares fell nearly 5 per cent after results came out.