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January 29, 2014

Yahoo reports 6% revenue drop in Q4 amid declining ad prices

Yahoo's profits rose 28% to $352m, mainly driven by sale of its patents.

By CBR Staff Writer

Yahoo reported a 6% decline in its revenues during the fourth quarter to $1.26bn amid a drop in its online ad prices, marking the fourth consecutive quarter of revenue drop.

In addition, Chinese e-commerce company Alibaba, which Yahoo owns the majority stake of, also reported a drop in revenue growth.

During the quarter, Yahoo’s profits rose 28% to $352m, mainly driven by the sale of some of its patents.

Yahoo CEO Marissa Mayer said that there has been a continued stability in the business, and investments allowed the delivery of new products to users to enable the company to establish a strong foundation for revenue growth.

"In Q4, we launched the new Yahoo Mail, Yahoo Finance, and our new Flickr photo books, while quickening our pace of experimentation," Mayer said.

"We are extremely heartened by the year-over-year traffic increase we experienced in 2013, an early sign of return on our investments and the acquisitions we’ve made."

During the quarter, Yahoo acquired Aviate, PeerCDN, Evntlive, Ptch, SkyPhrase, LookFlow, Bread Labs and Hitpost in a bid to reinforce its products, content offerings, core technology and talent.

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Earlier this month, Mayer fired COO Henrique de Castro, whom she had roped in with a four-year $58m compensation in October 2012, and was tasked with strategic and operational management of the company’s global sales, media, business development and operations.

Within the week of Castro’s departure, Yahoo’s editor-in-chief Jai Singh left the search engine giant, in the midst of reports of differences with Mayer.

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