SUNNYVALE, Calif. – SUNNYVALE, Calif. (AP) _ Yahoo Inc. (YHOO) on Tuesday reported fourth-quarter net income of $166.3 million.
The Sunnyvale, California-based company said it had profit of 17 cents per share. Earnings, adjusted for one-time gains and costs, were 30 cents per share.
The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The Internet media company posted revenue of $1.25 billion in the period. After subtracting Yahoo’s advertising commissions, revenue was $1.18 billion, matching Street forecasts.
Yahoo shares have decreased 5 per cent since the beginning of the year, while the Standard & Poor’s 500 index has declined slightly more than 1 per cent. In the final minutes of trading on Tuesday, shares hit $47.99, a climb of 31 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
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