The stock price is up 3.7% in post market trading after Yahoo released what appears to be a reassuring report — at least in relation to expectations — on its Q4 performance. The company generated net earnings of $272M, down 8% from the period last year, on revenues of $1.35B, +2%. Taking away traffic acquisition costs, Yahoo’s revenues came to $1.22B, slightly ahead of the $1.21B that analysts anticipated. Without one-time charges, earnings came to 32 cents a share, ahead of the 28 cents consensus estimate. Revenue from display ads fell 3% to $591M as the number of ads sold fell 10% from a year ago — outweighing the 7% increase in the price per ad. And Search ads were up 4% to $482M with an 11% increase in the number of paid clicks and a 1% boost in the price-per-click. Last year “Yahoo exhibited revenue growth for the first time in four years, with revenue up 2% year-over-year,” CEO Marissa Mayer says. “During the quarter we made progress by growing our executive team, signing key partnerships including those with NBC Sports and CBS Television, and launching terrific mobile experiences for Yahoo Mail and Flickr.”

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