Yahoo slides 6% on ad price decline, Alibaba slowdown
Quarterly results show continued slump
Yahoo Inc saw its fourth straight quarter of revenue decline as gross earnings fell 6% in Q4 to $1.266bn, according to a Reuters report.
Among the reasons for the prolonged slump, are a decrease in the Web company's ad prices and slowing growth from Alibaba, the Chinese e-commerce firm in which Yahoo has a 24% stake.
Yahoo shares were down 3.7% at $36.82 yesterday, in after-hours trading.
Yahoo CEO Marissa Mayer, a former Google executive, has been trying to reinvent the company as a mobile and services venture, since taking control in July 2012. While stock has doubled in price, analysts claim this is largely due to an aggressive buyback initiative and Alibaba's anticipated IPO.