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Yahoo's fourth-quarter revenue grew, but net income fell as the struggling Internet giant tried to put its house in order and improve its ability to compete against Google and other rivals.
Revenue for the period, ended Dec. 31, came in at US$1.832 billion, up 8 percent compared with 2006's fourth quarter, the company said Tuesday. Subtracting the commission that Yahoo pays to sites in its advertising network, revenue was $1.403 billion, up 14 percent but missing the $1.406 billion consensus expectation from financial analysts polled by Thomson Financial.
Meanwhile, net income fell to $206 million, or $0.15 per share, from $269 million, or $0.19 per share. On a pro forma basis, which includes one-time items, net income was $280 million, or $0.20 per share, down from $297 million, or $0.21 per share. Analysts expected Yahoo to post earnings per share of $0.11.
Yahoo's statement doesn't mention staff reductions, which the company is rumored to be mulling. The company will most likely field questions about layoffs in its earnings-release conference call Tuesday afternoon.
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