Yahoo has posted its first annual revenue jump in four years as the company continues its efforts to rebuild under Yahoo CEO Marissa Mayer.
Yahoo’s 2012 revenues hit $4.99 billion, up from $4.98 billion in 2011. Profits were $3.95 billion, up from $1.06 billion a year ago.
For the fourth quarter, Yahoo reported revenue of $1.34 billion, a 2 percent increase on the year ago quarter.
Quarterly search revenues climbed by 4 percent year-on-year, while paid clicks climbed by 11 percent over the same period. Cash balance was up by $3.5 billion.
Though revenues were up, Yahoo’s display ad revenue was down and the total number of ads sold dropped compared to the same period in 2011.
The revenue jump is an encouraging sign for Yahoo and the company’s prospects of a turnaround under new chief executive Mayer, who the company lured away from rival Google. Since taking over the company, Mayer has kicked off a series of reforms at the former search giant.
Under Mayer’s reign, the company has worked to turn itself around by refreshing its online properties and web services. The moves have helped to bring the company revenue boosts and won Mayer a nomination for Time magazine’s person of the year.
This article was originally published on V3.