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For the full year ended December 2008, Yahoo! posted a profit of USD 424 million against USD 660 million in the previous year, a company statement said in New York.
It added that the company during the quarter had incurred a restructuring cost of USD 108 million and "good will impairment" charge of USD 488 million among other costs.
Analysts said the expense of about 1,500 layoffs, along with the slackening advertisement spends, may have impacted the earnings.
Yahoo! had announced laying off about 1,500 employees in its efforts to save the company from the impact of the global downturn.
Yahoo! Chief Financial Officer Blake Jorgensen said, "We are encouraged by our results for 2008. Yahoo!s aggressive cost management and strong balance sheet helped us navigate this unprecedented economic environment."
In its outlook for the first quarter of the next year, the company expects its revenue to range from USD 1.53 billion to USD 1.73 billion, a decline from 1.82 billion at the same period last year.
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