Yahoo! has surpassed analyst expectations with its results for the fourth quarter of 2008.

The internet services company generated $1.8 billion (£1.26 billion) of revenues during the final three months of last year, down one per cent compared with the equivalent period in 2007.

A net loss of $303 million was recorded for the quarter, while full-year revenues and net income were $7.2 billion and $424 million respectively.

Pay per click services revenues rose by 11 per cent in the fourth quarter, according to chief financial officer at Yahoo! Blake Jorgensen.

The company is "better positioned to weather the economic downturn and emerge stronger when advertiser spending improves" thanks to cost-cutting and investments made in the fourth quarter, said Carol Bartz, chief executive of Yahoo!.

She went on to note in a conference call discussing the figures that she believed Yahoo! would do better as it is now than if it was split up and sold off.

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