SAN FRANCISCO (AP) — Yahoo’s latest financial results show the Internet company is still losing ground in the battle for online advertising.
The fourth-quarter breakdown announced Tuesday is the latest in a succession of ho-hum performances.
Yahoo Inc. recently hired former PayPal executive Scott Thompson as CEO in its latest attempt at a turnaround.
The company earned $296 million, or 24 cents per share, in the October-to-December period. That is down 5 percent from $312 million, or 24 cents per share, a year earlier.
The earnings matched analysts’ estimates.
Fourth-quarter revenue dropped 13 percent from the previous year to $1.32 billion.
After subtracting commissions, Yahoo’s revenue totaled $1.17 billion. That was $20 million below analyst projections.
It’s the 13th straight quarter that Yahoo’s net revenue has declined from the prior year.