SUNNYVALE, Calif. – SUNNYVALE, Calif. (AP) _ Yahoo Inc. (YHOO) on Tuesday reported a fourth-quarter loss of $4.43 billion, after reporting a profit in the same period a year earlier.
On a per-share basis, the Sunnyvale, California-based company said it had a loss of $4.70. Earnings, adjusted for one-time gains and costs, came to 13 cents per share.
The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The Internet media company posted revenue of $1.27 billion in the period. After subtracting Yahoo’s advertising commissions, revenue was $1 billion, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $948.7 million.
Yahoo shares have dropped 13 per cent since the beginning of the year, while the Standard & Poor’s 500 index has decreased roughly 7 per cent. In the final minutes of trading on Tuesday, shares hit $29.06, a decrease of 35 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on YHOO at http://www.zacks.com/ap/YHOO
Keywords: Yahoo, Earnings Report, Priority Earnings