Wednesday, January 27, 2010
Yahoo profits increase but sales fall
Online marketing giant Yahoo has posted a £95m net profit in the fourth quarter of 2009, but has seen it's sales continue to fall.
The profit figure is an improvemen on the £200m loss in the same period in 2008, but revenue fell 4% to £1 bn.
Yahoo struggled during the global downturn as advertisers trimmed their budgets. The firm cut more than 2,000 jobs to try to reduce costs.
Shares in Yahoo rose 1% in after-hours trading in New York to $16.17.
"The fourth quarter marked a strong finish to 2009, which was a transformative year for Yahoo," said chief executive Carol Bartz.
"Our business has positive momentum and we feel good as we head into 2010."
For the whole of 2009, Yahoo made a £598m profit, up 43% on the previous year.
The profit figure is an improvemen on the £200m loss in the same period in 2008, but revenue fell 4% to £1 bn.
Yahoo struggled during the global downturn as advertisers trimmed their budgets. The firm cut more than 2,000 jobs to try to reduce costs.
Shares in Yahoo rose 1% in after-hours trading in New York to $16.17.
"The fourth quarter marked a strong finish to 2009, which was a transformative year for Yahoo," said chief executive Carol Bartz.
"Our business has positive momentum and we feel good as we head into 2010."
For the whole of 2009, Yahoo made a £598m profit, up 43% on the previous year.
Labels: online marketing, Yahoo
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