Yahoo (YHOO) late Tuesday offered a mixed picture for the company's most recent quarter, reporting better-than-expected earnings but a decline in revenue.
Yahoo said fourth-quarter net income was $312 million, or 24 cents per share, up from $153 million or 11 cents per share, in the same period a year earlier. The results included restructuring charges of 2 cents per share. Analysts had expected earnings of 23 cents per share.
Net sales fell 4% to $1.21 billion, but they, too, beat expectations of $1.19 billion. The decline is partly attributable to the company's search partnership with Microsoft (MSFT).
The company said it expects revenue for the current quarter to come in between $1.02 billion and $1.08 billion; Wall Street is looking for sales of $1.13 billion.
Earlier Tuesday, Yahoo announced plans to cut 1% of its work force, or 100 to 150 employees. The company eliminated 4% of its employees in December.
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