Yahoo announced its Q4 2011 earnings on Tuesday, revealing that year-over-year revenue has slipped for the struggling Internet corporation. No wonder the reigns were handed off to current CEO, Scott Thompson.
Compared to last year’s $312 million net earnings, Yahoo scraped into the quarter ending December 31 at $296 million, or 24 cents a share. Overall revenue fell 3 percent over the same period last year, coming in at $1.17 billion, falling short of analyst estimates of $1.19 billion.
In addition, Yahoo’s display ad revenue decreased as well, down 4 percent, while search ad revenue fell 3 percent. But despite numerous decreases, the company’s operating income jumped 10 percent to $242 million, something CEO Scott Thompson was quite pleased to report in a detailed earnings release.
Yahoo! continued to make progress in the quarter with operating income increasing ten percent year over year, Thompson said. In 2012 we will be aligning resources behind key areas of focus to enable us to move aggressively in market and grow our business, bringing innovative new products and experiences to both our users and advertisers.
The company still continues to have an online presence, though, something investors and advertisers can be optimistic about. Worldwide traffic has gone up 12 percent, while media property page views have risen 7 percent. Still, Thompson has plenty to do in order to right the Yahoo ship, especially with big name players heading elsewhere.