SHARES in internet company Yahoo fell by six per cent in after-hours trading last night, despite a fall in revenue that beat many analysts’ forecasts.
The company reported fourth-quarter revenue of $1.266bn (£763.2m), compared to $1.346bn in the same quarter a year before. Yahoo said that revenue from display advertising was down six per cent in the fourth quarter and this impacted figures. The company is also losing out in the digital ad market to Google and Facebook.
Alibaba, the Chinese e-commerce group part-owned by Yahoo, posted revenue growth of 51 per cent, down from 61 per cent in the prior quarter.
Chief executive Marissa Mayer urged confidence in the brand.
“We are extremely heartened by the year-over-year traffic increase we experienced in 2013, an early sign of return on our investments and the acquisitions we’ve made,” she said.