29 Jan 2013, Shaun Nichols , V3
Yahoo has posted its first annual revenue jump in four years as the internet company continues its efforts to rebuild under new leadership.
Yahoo said that it revenues for 2012 hit $4.99bn on the year, up from $4.98bn in 2011. Profites were $3.95bn up from $1.06bn a year ago.
For its fourth quarter revenues were $1.34bn of revenues, a two percent increase on the year ago quarter.
"In 2012, Yahoo exhibited revenue growth for the first time in four years, with revenue up two percent year-over-year," said Yahoo chief executive Marissa Mayer.
"During the quarter we made progress by growing our executive team, signing key partnerships including those with NBC Sports and CBS Television, and launching terrific mobile experiences for Yahoo Mail and Flickr.
"At the same time, we achieved tremendous internal transformation in the culture, energy and execution of the company."
Though revenues were up, Yahoo saw display ad revenue was down and the total number of ads sold dropped compared to the same period in 2011.
Other parts of Yahoo's business, however, showed encouraging signs. The company saw search quarterly revenues climb by four percent year-on-year. Paid clicks climbed by 11 percent over the same period, while cash balance was up by $3.5bn.
The revenue jump is an encouraging sign for Yahoo and the company's prospects of a turnaround under new chief executive Mayer, who the company lured away from rival Google. Since taking over the company, Mayer has kicked off a series of reforms at the former search giant.
Under Mayer's reign, the company has worked to turn itself around by refreshing its online properties and web services. The moves have helped to bring the company revenue boosts and won Mayer a nomination for Time magazine's person of the year.