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Yahoo revenue down 13 percent in Q4, CEO says better execution needed

Yahoo’s revenue dropped 13 percent compared to the same period last year, the company reported today. In its quarterly earnings’ announcement Tuesday, Yahoo reported $1,324 million in GAAP revenue for the fourth quarter of 2011, while costs increased by 10 percent. Excluding traffic acquisition costs from Yahoo’s partnership with Microsoft and others, the company brought in $1,169 million — down just three percent compared to last year.

Aeria Games buys game portal Ijji Games and raises money

Aeria Games has acquired free-to-play online gaming portal Ijji Games, the company announced today. It has also received funding from Ijji parent company NHN Corporation, a Korean-based internet company that specializes in search and gaming portals for the Asian market.

Yahoo may ax 650 jobs tomorrow (report)

Struggling Web portal Yahoo may cut up to 650 jobs, or 5 percent of its workforce, as early as Tuesday, according to the New York Times.