Shares of Yahoo fall after revenue falters

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SAN FRANCISCO — Yahoo still lags far behind its major Internet competitors, but the company’s performance under Marissa Mayer continues to improve.

The Internet portal and web publisher reported fourth-quarter revenue of $1.27 billion Tuesday, down 6 percent from $1.35 billion in the same quarter a year ago. That was roughly in line with Wall Street’s expectations.

But the company was more profitable than expected. Net income for the quarter, which ended Dec. 31, was $352 million, or 33 cents a share, up from $274 million, or 23 cents a share. However, the results were lifted by a $49 million gain from the sale of patents. Using a measure of profits that focuses only on operations, Yahoo’s profits declined.

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