• by Mark Walsh  @markfwal, January 24, 2012

Yahoo Tuesday reported net revenue of $1.17 billion for the fourth quarter, down 3% from the year earlier period and falling below the $1.2 billion analysts had expected. Net income of $296 million, or 24 cents a share, was down 5% from a year ago but in line with analysts’ consensus forecast. Display ad revenue, excluding payments to partners, fell 4% in the quarter to $546 million from a year ago, while search revenue dropped 3% to $376 million. 

 "Yahoo continued to make progress in the quarter with operating income increasing ten percent year over year," said newly named Yahoo CEO Scott Thompson, in a statement. "In 2012 we will be aligning resources behind key areas of focus to enable us to move aggressively in market and grow our business, bringing innovative new products and experiences to both our users and advertisers." More to come.