( dpa )- Struggling internet portal Yahoo reported a 14 per cent rise in fourth quarter revenue on Tuesday, but profits were down and the company disappointed investors who had been expecting a widely reported jobs cut.
The internet pioneer said its revenue was 1.4 billion dollars, up from 1.2 billion dollars a year ago. Net profit was 206 million dollars, or 15 cents a share, down from 269 million dollars, or 19 cents per share, a year ago.
"This is a pivotal time for Yahoo's business," chief executive Jerry Yang said in a statement. "We have a unique window of opportunity right now to make the necessary, game-changing investments that will help us capture a significant piece of the growing ad market and create substantial long-term value for our shareholders."
The earnings report came as Yahoo struggles to compete with Google, which boasts 588 million monthly visitors worldwide compared to Yahoo's 485 million, according to comScore .