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Yahoo slides 6% on ad price decline, Alibaba slowdown

January 28, 2014

ArabianBusiness.com Staff

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.


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Source: ITP.net (United Arab Emirates)


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