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Yahoo Reports Rise in Quarterly Revenues -- Finspreads

LONDON -- (Marketwire) -- 01/29/13 -- Finspreads: Yahoo has revealed a rise in revenue for the fourth quarter of 2012, totalling a sum of $1.35 billion (£ 860 million), a rise of two per cent in comparison to the year before.

Net income was still down by eight per cent to $272.3 million, but was due to a one-off accounting charge.

The announcement saw the company's shares gain by 4.5 per cent in after-hours trading in New York.

It comes as a welcome relief for the company, which is visited by 700 million users a month.

Despite being an established name in its industry, the company shed over 1,000 jobs during the last year, and was long divided over whether it should focus on media content or tools and technologies.

Chief executive Marissa Mayer joined the company from Google last July, choosing to mainly focus on mobile and social networking services.

Many analysts have attributed the recent figures for Yahoo's fourth quarter to her successful leadership.

At the end of after-hours trading in New York, Yahoo's shares were valued at $20.95, a rise of 2.95 per cent.

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