By Alexei Oreskovic
Jan 28 Yahoo Inc posted a 4 percent
gain in net revenue to $1.22 billion in the fourth quarter, when
an increase in search advertising sales offset weakness in the
Web portal's display ad business.
The company forecast net revenue -- which excludes fees
shared with partner websites -- of $1.07 billion to $1.1 billion
in the current quarter, trailing the $1.1 billion that Wall
Street analysts expect on average.
Shares in Yahoo, which is trying to stave off declines
across much of its business and revive growth, were up 1.5
percent in after hours trade. They had risen 4.5 percent before
the revenue projections were disclosed on an analysts'
"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 on Monday 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.
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. Shares in the company were up 1.5
percent at $20.61 in extended trading from a close of $20.31 on