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 today, the company said (after news was leaked) that it would lay off another 100+ employees.