Yahoo Earnings Double, Revenue Falls, Layoffs Increase

SAN FRANCISCO (AP) -- Yahoo's fourth-quarter earnings more than doubled, but declining revenue makes it clear the Internet company is still struggling to cash in on the online advertising boom. 

Yahoo's earnings news comes on the same day the struggling internet giant announced a new round of layoffs.

The results announced Tuesday underscore why many investors are wondering if Yahoo CEO Carol Bartz is the right person for the job as she enters the second half of a four-year contract she signed in January 2009.

Although Bartz has boosted Yahoo's earnings through layoffs and other cost-cutting measures, the company's revenue has fallen from its levels before her arrival.

Yahoo Inc. earned $312 million, or 24 cents per share, in the October-December period. That compares with net income of $153 million, or 11 cents per share, at the same time in 2009.

Revenue dropped 12 percent from the prior year to $1.53 billion.

Earlier Tuesday, Yahoo announced it was laying off another 100 to 150 workers, signaling the continued challenges facing the Internet company.

The job cuts made Tuesday represent about 1 percent of Yahoo's work force of roughly 13,500 workers.

The latest payroll reductions come just six weeks after Yahoo laid off 600 workers.

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