Jan 28, 2009
Yahoo! has reported a loss of $303.4 (£215m) in the final three months of 2008 as the recession hits online advertising.
City analysts said the company had weathered the storm better than anticipated, with the loss mainly due to one-off operating costs.
The results come as Carol Bartz takes over from Jerry Yang as the firm's new CEO. Yang stepped down following his rejection of a $47.5bn takeover offer from Microsoft last year, which angered shareholders.
"The company made important investments while aggressively managing costs, leaving us better positioned to weather the economic downturn and emerge stronger when advertiser spending improves," said Ms Bartz.
During the same period Google saw it's revenue rise by 18%. For 2008 as a whole, Yahoo made a net profit of $424m compared with $660m in 2007. The company's shares rose in after-hours trading.
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