Yahoo! Inc. announced a 4% gain in net revenues of $1.22 billion in Q4 2012. The company’s increase in search advertising sales offset the company’s weak display ad business. Yahoo! forecasted net revenues of $1.07 billion to $1.1 billion in the current quarter. Wall Street analysts were expecting $1.1 billion.
Yahoo!’s fourth quarter net income was $272.3 million (23 cents per share) versus $295.6 million (24 cents per share) one year ago. Yahoo! repurchased around $1.5 billion worth of shares in the quarter.
Yahoo! CEO Marissa Mayer is working on recovering the company’s declining revenues and the stock has grown 30% under her leadership.