Yahoo on Tuesday reported earnings for Q4 of 2013, beating Wall Street expectations and posting earnings of 46 cents a share on revenues of $1.20 billion, beating the Wall Street consensus for of an EPS of 38 cents. Since earnings hit, shares have gone up more than four percent during after-hours trading.
Search revenue was $461 million during Q4, which is up eight percent year-on-year taking out traffic acquisition costs (TAC), though by GAAP the search revenue was $464 million, down four percent from the same period last year.
“I’m encouraged by Yahoo’s performance in the fourth quarter and 2013 overall,” said CEO Marissa Mayer. “We saw continued stability in the business, and our investments allowed us to bring beautiful products to our users and establish a strong foundation for revenue growth.” Mayer said the site’s traffic increased year-over-year, crediting the company’s investments and new experiences, including Flickr photo books and redesigned Yahoo Mail, as big reasons.
Yahoo has been extremely busy the past several months under the helm of Marissa Mayer who has put a new focus on scooping up startups and shuffling executives. Since Mayer joined as Yahoo’s CEO in July 2012, CNBC notes, shares of Yahoo have increased more than 140 percent.