3.57 AM Wednesday, 24 July 2024
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 04:16 05:39 12:28 15:52 19:12 20:35
24 July 2024

Yahoo swings to $303m losses in Q4

Analysts say Yahoo has been able to weather the US recession. (AP)

Yahoo Inc has stumbled to a fourth-quarter loss of $303 million (Dh1.1 billion), but the internet company withstood the recession better than analysts had expected.

Yahoo’s shares gained up nearly 5 per cent after the results were released on Tuesday.

The fourth quarter closed the books on co-founder Jerry Yang’s fruitless 18-month stint as chief executive, with Carol Bartz taking over.

Yahoo’s fourth-quarter loss translated into 22 cents per share. It compared with a profit of 15 cents per share in the year-ago period, when Yahoo earned $206 million.

Revenue for the period dipped 1 per cent to $1.81 billion, though Yahoo said it would have risen 3 per cent if not for currency fluctuations. After subtracting advertising commissions, Yahoo’s revenue totalled $1.37 billion, matching analyst estimates.