Yahoo Inc.’s fourth-quarter profit nearly doubled as advertisers continued to shift spending to the Internet, but it wasn’t enough to live up to the lofty expectations for the Web’s most heavily trafficked destination.
The Sunnyvale-based company reported net income of $683.2 million (46 cents per share) compared with $372.5 million (25 cents) a year earlier. Revenue for the quarter rose 39 percent to $1.5 billion.
