News: Net income declined to $76m.
Yahoo has fallen short of expectations after reporting disappointing third quarter financial results.
GAAP revenue increased 6.8% to $1.22bn in Q3, compared to $1.14bn in the year-ago period.
Net income declined to $76m, or $0.08 diluted income per share, when compared to $6.77bn, or $6.70 diluted income per share, for the same period in 2014.
Revenue from mobile, video, native, and social (Mavens) increased 43% to $422m, up from $295m, making up 38% of traffic-driven revenue.
Last month, Yahoo acquired social shopping site Polyvore to accelerate its Mavens growth strategy.
Gross search revenue was $870m for the third quarter and GAAP display revenue increased 14% to $509m.
Yahoo CEO Marissa Mayer said: "As we move into 2016, we will work to narrow our strategy, focusing on fewer products with higher quality to achieve improved growth and profitability.
"In addition to sharpening focus within core business growth, our top priority is the planned spinoff of Aabaco Holdings. This is an important moment for the Company, and we continue to strive to complete the spin as quickly as we can."