Internet giant yahoo reported a $153 million net profit in the fourth quarter of 2009, but the sales of the company continue to fall. But still, this was the best quarterly financial performance since Carol.A.Bartz took over as the chief executive a year ago. This profit is good as compared to $303 million loss in the same period last year. However, the revenues fell by 4% to $1.7 billion.
The shares of Yahoo surged by 1% in the after-hours trading as the news of profits was announced. Yahoo struggled throughout the year due to global downturn and trimmed the budget by slashing more than 2,000 jobs. Ms. Bartz said that the fourth quarter marked a strong finish to 2009, and that this was a transformative year for Yahoo.
Yahoo reported 11 cents per share and said that it would have made 15 cents per share, if not the charges tied with a proposed partnership with Microsoft. Still it was more than the average estimates of 11 cents per share by analysts. Yahoo had been struggling since December 2007, as Google has enhanced its dictatorship in the search market.
In order to compete with its rivals, Yahoo is spending more than $100 million for marketing campaign in 2010. For the entire year, yahoo made profit of £598 million that went up by 43% as compared to previous year.
