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Yahoo revenue rises under CEO Marissa Mayer, beats expectations

January 28, 2013|By Jessica Guynn
  • Marissa Mayer, chief executive of Yahoo since July, at the annual meeting of the World Economic Forum in Davos, Switzerland, last week.
Marissa Mayer, chief executive of Yahoo since July, at the annual meeting… (Laurent Gillieron / Associated…)

Marissa Mayer has put an end to a prolonged slump in Yahoo revenue.

Fourth-quarter revenue rose 2% to $1.35 billion, Yahoo's first full-year revenue increase in three years.

It was the first full quarter under new Chief Executive Mayer, who joined the tech giant from Google in mid-July. Mayer has sparked hopes that she can turn around the beleaguered company.

The company's fourth-quarter net income declined 8% to $272 million, or 23 cents a share. The earnings would have been higher if not for one-time accounting charges.

"I am pleased with our results and our progress," Mayer said during a conference call with analysts.

She said the company is focused on growth but also on profitability.

The fourth-quarter results topped Wall Street expectations. Shares rose 2% to $20.75 in after-hours trading.

Cantor Fitzgerald analyst Youssef Squali said the results were "generally in line with muted expectations."

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Follow me on Twitter @jguynn

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