Yahoo shares slide on weak revenue

28 January 2014 Last updated at 17:33 ET

Internet search firm Yahoo reported a drop in revenue for the fourth straight quarter, prompting shares to fall more than 5% in after-hours trading.

Revenue for display ads was down 6% compared to same period last year and Yahoo struggled to woo advertisers from rivals Facebook and Google.

Meanwhile, profits were up 28% to $348m (£210m) from October to December.

But analysts say higher earnings are due to cost savings and investment in two Asian internet firms.

Shares in the tech giant are up over 80% for the year.

'Stability'

According to research firm eMarketer, Facebook recently surpassed Yahoo as the number two digital advertising seller in the US.

The company's share of the US digital ad market declined to 5.8% in 2013 from 6.8% in 2012.

However, a string of acquisitions has heartened investors, including the firm's much discussed purchase of blogging platform Tumblr.

"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," said Ms Mayer in a statement.

She also touted the firm's re-launch of core products like Yahoo Mail and Yahoo Finance.

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