FILE - In this Wednesday, Jan. 22, 2014, file photo, Yahoo CEO Marissa Mayer smiles during a session at the World Economic Forum in Davos, Switzerland. Yahoo reports quarterly earnings on Tuesday, Jan. 28, 2014. (AP Photo/Michel Euler, File)
January 28, 2014 - 1:31 PM
SAN FRANCISCO - Yahoo's latest quarterly report shows CEO Marissa Mayer is still having trouble bringing in more revenue as online advertisers spend more money at Google and other rivals.
The fourth-quarter results announced Tuesday serve as the latest reminder of challenges facing Yahoo Inc. The long-slumping Internet company hoped to revive its revenue growth when it lured Mayer away from Google Inc. 18 months ago.
So far, though, Yahoo's revenue remains stuck in a rut. The company's earnings are rising largely because lucrative investments in Asian Internet companies made before Mayer's arrival.
Yahoo earned $348 million, or 33 cents per share, a 28 per cent increase from $272 million, or 23 cents per share, a year earlier.
Revenue fell 6 per cent to $1.27 billion.
Shares fell nearly 5 per cent after results came out.
News from © The Associated Press, 2014