Search advertising boosts Yahoo revenue
- USA: Wednesday, January 30 - 2013 at 07:12
Yahoo Inc. has reported a 4% year-on-year increase in net revenue in the fourth quarter to $1.22bn, as growth in search advertising revenue offset weakness in the web portal's display ad business, Reuters has reported. Net income for the quarter fell to $272.3m from $295.6m in the year-ago period. "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. Yahoo chief executive Marissa Mayer is moving to revive the company's fortunes after several years of declining revenue.
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