Yahoo revenue rises under CEO Marissa Mayer, beats expectations

Marissa Mayer has put an end to a prolonged slump in Yahoo revenue.

Fourth-quarter revenue rose 2% to $1.35 billion, Yahoo’s first full-year revenue increase in three years.

It was the first full quarter under new Chief Executive Mayer, who joined the tech giant from Google in mid-July. Mayer has sparked hopes that she can turn around the beleaguered company.

The company’s fourth-quarter net income declined 8% to $272 million, or 23 cents a share. The earnings would have been higher if not for one-time accounting charges.

“I am pleased with our results and our progress,” Mayer said during a conference call with analysts.

She said the company is focused on growth but also on profitability.

The fourth-quarter results topped Wall Street expectations. Shares rose 2% to $20.75 in after-hours trading.

Cantor Fitzgerald analyst Youssef Squali said the results were “generally in line with muted expectations.”

ALSO:

Yahoo’s stock surges after CEO raises investors’ hopes

New Yahoo CEO Marissa Mayer’s other big news: She’s pregnant

Yahoo CEO Marissa Mayer tells employees her turnaround strategy

Follow me on Twitter @jguynn