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Yahoo revenue continues to slide

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Yahoo!
Yahoo's revenue fell for a 13th straight quarter as the internet giant entered a fourth year of decline.

The company's financial struggles led to the dismissal of chief executive Carol Bartz last year, and the appointment of former PayPal head Scott Thompson as her successor.

Yahoo reported earnings of $296m, or 24 cents per share, in the period from October to December 2011, a year-on-year decline of 5% compared to 2010. The figures matched analysts' estimates, but fell short of Wall Street targets, reports PA.

The firm's fourth quarter earnings dropped by 13% compared to the previous year, with its total revenue amounting to 1.17 billion US dollars, 20 million lower than estimates predicted.

Thompson is yet to reveal specific details about his recovery strategy, but warned that several Yahoo services may be closed down. This could mean that some employees at the internet firm might face redundancy.

Jerry Yang, co-founder of Yahoo, stepped down from the company's board last week after 16 years' service.

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