Yahoo releases mixed results for fourth quarter

Yahoo offices

Yahoo today announced its results which were a mixed bag of rises and falls.

While net income surged to $153 million (94 million), up from losses of $303 million in the same quarter last year, revenues from sales dropped four per cent to $173.2 million.

The company is known to have struggled throughout the economic downturn, even resorting to cutting 10 per cent of its workforce at the end of 2008 amounting to close to 2,000 employees.

However, the company's chief executive, Carol Bartz released a very positive statement about the results and the company going forward.

"The fourth quarter marked a strong finish to 2009, which was a transformative year for Yahoo," she said.

"We beat the high end of our revenue guidance, saw demand for premium display advertising improve significantly and grew Owned & Operated search advertising revenue sequentially for the first time since the third quarter of 2008. Our business has positive momentum and we feel good as we head into 2010."

The company has predicted though that the first quarter of 2010 is looking less fruitful, with forecasted revenues in the range of $1,575 million to $1,675 million.

Jennifer Scott

Jennifer Scott is a former freelance journalist and currently political reporter for Sky News. She has a varied writing history, having started her career at Dennis Publishing, working in various roles across its business technology titles, including ITPro. Jennifer has specialised in a number of areas over the years and has produced a wealth of content for ITPro, focusing largely on data storage, networking, cloud computing, and telecommunications.

Most recently Jennifer has turned her skills to the political sphere and broadcast journalism, where she has worked for the BBC as a political reporter, before moving to Sky News.