Yahoo revenue decline due to lost battle with Google and Facebook

Internet giant Yahoo has warned that revenues will continue to decline in the first quarter of this year because the company websites lost traffic in favor of rivals Google and Facebook, according to Reuters. Yahoo Revenues decreased by 12% during October to December 2010, 1.5 billion dollars, the third consecutive quarter of decline.
Also, the net profit has doubled to 312 million dollars from 153 million dollars.

CEO Carol Bartz (pictured) is facing increasing pressure from investors to restore the portal, once dominant on the Internet in a strong position in the online industry. Bartz has promised investors that revenues will return to growth in the second half of this year. The company also announced the second round of layoffs in the last six weeks, dropping to an additional 1% of employees.

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