Yahoo! (YHOO - Get Report) reported fourth -quarter and fiscal 2012 results after market close on Tuesday. The Sunnyvale, Calif.-based company reported an annual revenue increase for the first time in four years, with sales increasing 2% year over year. Yahoo! also beat Wall Street's expectations, much to the delight of investors. Excluding items, Yahoo! earned 32 cents a share on $1.22 billion in revenue during the fourth quarter. Yahoo! revenues exclude traffic acquisition costs (TAC). Analysts were looking for earnings of 28 cents a share on $1.21 billion for the quarter. TheStreet's Chris Ciaccia said that Yahoo!'s results suggest that CEO Marissa Mayer is pushing the company in the right direction. Yahoo! shares fell 3.0% during the week's trading to close at $19.76.
Qualcomm (QCOM - Get Report) surged on Wednesday after the chipmaker blew past Wall Street's fiscal first-quarter estimates and offered robust second-quarter guidance. The San Diego-based firm reported revenue of $6.02 billion, a 29% increase from a year earlier and well above analysts' forecast of $5.9 billion. Excluding items, Qualcomm earned $1.26 a share, a rise of 30%. Analysts surveyed by Thomson Reuters were looking for earnings of $1.13 a share. Qualcomm shares gained 4.82% during the week's trading to close at $66.73 on Friday.
Amazon (AMZN - Get Report) posted a 22% fourth-quarter revenue hike on Tuesday, but missed Wall Street's earnings estimate. The online retailer earned 21 cents a share on $21.27 billion in revenue, compared to earnings of 38 cents a share and sales of $17.43 billion in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for earnings of 28 cents a share and revenue of $22.26 billion. Amazon shares slipped 6.7% to $265 during the week's trading.
Tech earnings season slows down considerably next week, with LinkedIn (LNKD) and Cognizant (CTSH) amongst the firms on deck. Sprint (S) also reports its fourth-quarter results early on Wednesday. Enjoy the weekend, everyone! -- Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.