SAN FRANCISCO — Yahoo’s latest quarterly report shows CEO Marissa Mayer is still having trouble bringing in more revenue as online advertisers spend more money at Google, Facebook and other rivals.
The fourth-quarter results announced Tuesday indicate Yahoo’s revenue remains stuck in a rut. The company’s earnings are rising largely because of cost-cutting measures and lucrative investments in two Asian Internet companies, China’s Alibaba Group and Yahoo Japan. Both were made before Mayer’s arrival. Meanwhile, forecasts for first-quarter sales fell short of some analysts’ estimates.
“It’s a dismal outlook,” Colin Gillis, an analyst at BGC Partners in New York, told Bloomberg News. “There’s going to be more pressure to perform as the year progresses.”
Yahoo earned $348 million, or 33 cents per share, a 28 percent increase from $272 million, or 23 cents per share, a year earlier.
Excluding certain one-time items, Yahoo earned 46 cents per share, topping the average estimate of 39 cents per share among analysts surveyed by FactSet.
Revenue fell 6 percent to $1.27 billion. After subtracting commissions paid to Yahoo’s ad partners, revenue totaled $1.2 billion. — AP
DALLAS — AT&T posted stronger-than-expected earnings for the final quarter of 2013, helped by higher revenue from mobile and Internet service subscribers.
AT&T Inc. said Tuesday that it earned $6.9 billion, or $1.31 per share, in the October-December period. That’s up from a loss of $3.8 billion, or 68 cents per share, in the same period a year earlier.
The latest quarter’s results included a pension-related gain of $7.6 billion, tax expenses and other items. Adjusted earnings were 53 cents per share in the latest quarter, beating analysts’ expectations by 2 cents.
Revenue rose 2 percent to $33.2 billion. — AP
DEARBORN, Mich. — Ford Motor Co. enjoyed one of the best years in its history in 2013, but the celebration won’t last long.
Ford has already warned that profits will be down this year as it launches a record 23 vehicles and builds seven plants around the world. It’s anticipating 13 weeks of down time — up from five in 2013 — at its two U.S. pickup truck plants to prepare for the launch of a new aluminum-clad F-150.
“This is sort of a preparation year, as we consolidate the gains of the past and prepare for even stronger growth in the future,” Ford Chief Financial Officer Bob Shanks told reporters Tuesday.
In 2013, though, Ford powered to a full-year profit of $7.2 billion, or $1.76 per share. On a pretax basis, Ford made $8.56 billion, its second-highest pretax profit in a decade after the $8.8 billion in earned in 2011.
Full-year revenue rose 10 percent to $146.9 billion. — AP
DALLAS — American Airlines reported a $2 billion loss for the fourth quarter because of $2.4 billion in special charges, mostly related to its bankruptcy reorganization and merger with US Airways.
The company said Tuesday that excluding those one-time charges, American and US Airways would have earned a combined profit of $436 million, or 59 cents per share, compared with a combined loss of $42 million a year earlier.
Tuesday’s results were the first from the merged company and were complicated by the timing of the merger, two-thirds of the way into the quarter. — AP