Yahoo's Revenue Drops in Q4 and for the Full 2009 Year
Yahoo's revenue fell both in the fourth quarter and in the full 2009 year, the company said Tuesday.
Year on year, revenue dropped 4 percent to US$1.732 billion in the fourth quarter of 2009, ended Dec. 31, and 10 percent to $6.460 billion for the full 2009 year.
Net income in the quarter came in at $153 million, or $0.11 per share, compared with a net loss of $303 million, or $0.22 per share, in 2008's fourth quarter, which was hit by one-time costs including restructuring charges.
On a pro forma basis, which excludes the one-time items, net income was $214 million, or $0.15 per share, in the quarter, down from net income of $295 million, or $0.21 per share, in 2008's fourth quarter.
For the full 2009, net income was $598 million, or $0.42 per share, up from net income of $419 million, or $0.29 per share, for 2008. Pro forma net income for 2009 was $887 million, or $0.63 per share, compared to $980 million, or $0.70 per share, for 2008.
Yahoo CEO Carol Bartz, who recently completed her first year at the company's helm, said she was satisfied with the results. "The fourth quarter marked a strong finish to 2009, which was a transformative year for Yahoo," Bartz said in a statement.
"Our business has positive momentum and we feel good as we head into 2010," Bartz added.
Yahoo makes most of its revenue from online advertising. Its specialty is display advertising, such as banner ads, a segment that didn't perform as well last year as search advertising, which Google dominates.
Revenue for the first quarter of 2010 is expected to be between $1.575 billion and $1.675 billion.