Yahoo has reported a 23% rise in mobile revenues during Q4 to $254m, while its display ad revenues dropped by 4% from last year’s corresponding quarter to $532m.
During the quarter, Yahoo’s search division generated $467m in revenues, up 1%, in addition to reporting a rise in its ad sales by 17%.
Yahoo CEO Marissa Mayer said: "I’m pleased to report that our performance in Q4 and in 2014 continues to show stability in our core business. Our mobile strategy and focus has transformed Yahoo and yielded significant results."
"In Q4, we saw $254 million in mobile revenue, up 23% quarter-over-quarter. Across all of 2014, we saw gross mobile revenue of $1.26 billion and GAAP mobile revenue of $768 million."
For 2014 overall, Yahoo’s mobile revenues reached $1.26bn, with its GAAP revenues reaching $768m.
Mayer added: "Our investment businesses – mobile, video, native, and social – collectively delivered more than $1.1 billion in GAAP revenue, up 95% year-over-year."
"These growth drivers have really focused our investments and energy on the future of digital advertising."
During the year, the tech firm snapped up programmatic video advertising platform BrightRoll and signed a five-year default search engine partnership with Mozilla.
Yahoo CFO Ken Goldman said: "We are proud of our accomplishments to date on capital allocation and the returns they have produced for our shareholders."
"Since the beginning of Q2 2012, our significant buyback activity has seen us repurchase 354 million shares, totaling $9.7 billion to date and representing about a 29% gross reduction in our initial share base."
"At an average price of $27.44, this has been highly accretive for our shareholders. Following the planned tax-free spin-off of the remaining stake in Alibaba, which we also announced today, we will have returned a total of nearly $50 billion in value to our shareholders to date."
Yahoo also revealed plans to spin-off its stake in Chinese e-commerce giant Alibaba and turn it into a separate publicly traded company as SpinCo.