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Yahoo’s 4Q results dragged down by revenue drop

FILE - In this Wednesday Jan. 22 2014 file phoYahoo CEO MarissMayer smiles during sessiWorld Economic Forum Davos Switzerland. Yahoo

FILE - In this Wednesday, Jan. 22, 2014, file photo, Yahoo CEO Marissa Mayer smiles during a session at the World Economic Forum in Davos, Switzerland. Yahoo reports quarterly earnings on Tuesday, Jan. 28, 2014. (AP Photo/Michel Euler, File)

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SAN FRANCISCO (AP) — Yahoo’s latest quarterly report shows CEO Marissa Mayer is still having trouble bringing in more revenue as online advertisers spend more money at Google and other rivals.

The fourth-quarter results announced Tuesday serve as the latest reminder of challenges facing Yahoo Inc. The long-slumping Internet company hoped to revive its revenue growth when it lured Mayer away from Google Inc. 18 months ago.

So far, though, Yahoo’s revenue remains stuck in a rut. The company’s earnings are rising largely because lucrative investments in Asian Internet companies made before Mayer’s arrival.

Yahoo earned $348 million, or 33 cents per share, a 28 percent increase from $272 million, or 23 cents per share, a year earlier.

Revenue fell 6 percent to $1.27 billion.

Shares fell nearly 5 percent after results came out.

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