Internet giant Yahoo! ended its fourth quarter and full-year 2013 with a 6pc drop in revenue in both periods compared to 2012, at US$1.26m and US$4.68m, respectively.
The company also reported net earnings for the fourth quarter amounted to US$348m, which includes a US$49m net gain from the sale of patents. The US$348m is a 28pc increase compared to US$272m in the year-ago quarter.
Net earnings for the full year of 2013 reached US$1.36m, a 65pc decrease compared to US$3.94m for the prior year (which included a net gain related to the sale of Alibaba Group shares of US$2.75m).
GAAP net earnings per diluted share were US$0.33 in the fourth quarter of 2013 (which includes a net gain of US$0.05 per diluted share related to the sale of patents), compared to US$0.23 in the fourth quarter of 2012.
GAAP net earnings per diluted share were US$1.26 for the full year of 2013, compared to US$3.28 for the prior year (which included a net gain of US$2.29 per diluted share related to the sale of Alibaba Group shares).
Yahoo! CEO Marissa Mayer said she is encouraged by Yahoo!’s performance in the fourth quarter and 2013 overall.
“We saw continued stability in the business, and our investments allowed us to bring beautiful products to our users and establish a strong foundation for revenue growth,” Mayer said.
“In Q4, we launched the new Yahoo! Mail, Yahoo! Finance, and our new Flickr photo books, while quickening our pace of experimentation.
“We are extremely heartened by the year-over-year traffic increase we experienced in 2013, an early sign of return on our investments and the acquisitions we’ve made.”