Page last updated at 22:02 GMT, Tuesday, 26 January 2010

Yahoo profits rise but sales fall

Yahoo logo, Yahoo
Yahoo says 2009 was a "transformative" year for the business

Internet giant Yahoo has posted a $153m (£95m) net profit in the fourth quarter of 2009, but has seen sales continue to fall.

The profit figure compares with a $303m loss in the same period in 2008, but revenue fell 4% to $1.7bn.

Yahoo struggled during the global downturn as advertisers trimmed their budgets. The firm cut more than 2,000 jobs to try to reduce costs.

Shares in Yahoo rose 1% in after-hours trading in New York to $16.17?.

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"The fourth quarter marked a strong finish to 2009, which was a transformative year for Yahoo," said chief executive Carol Bartz.

"Our business has positive momentum and we feel good as we head into 2010."

For the whole of 2009, Yahoo made a £598m profit, up 43% on the previous year.

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