Yahoo releases mixed results for fourth quarter

Yahoo today announced its results which were a mixed bag of rises and falls.

While net income surged to $153 million (94 million), up from losses of $303 million in the same quarter last year, revenues from sales dropped four per cent to $173.2 million.

The company is known to have struggled throughout the economic downturn, even resorting to cutting 10 per cent of its workforce at the end of 2008 amounting to close to 2,000 employees.

However, the company's chief executive, Carol Bartz released a very positive statement about the results and the company going forward.

"The fourth quarter marked a strong finish to 2009, which was a transformative year for Yahoo," she said.

"We beat the high end of our revenue guidance, saw demand for premium display advertising improve significantly and grew Owned & Operated search advertising revenue sequentially for the first time since the third quarter of 2008. Our business has positive momentum and we feel good as we head into 2010."

The company has predicted though that the first quarter of 2010 is looking less fruitful, with forecasted revenues in the range of $1,575 million to $1,675 million.