Yahoo Inc's net revenue declined 4 percent in the fourth quarter, but was slightly ahead of Wall Street expectations.

Yahoo shares were down 4.4 percent at $15.39 in extended trading on Tuesday.

Yahoo said its net income in the fourth quarter was $312 million, or 24 cents a share, compared with $153 million, or 11 cents a share in the year ago period.

Analysts polled by Thomson Reuters I/B/E/S were looking for 22 cents a share.

Yahoo said net revenue, which excludes revenue shared with website partners, totaled $1.2 billion in the three months ended December 31, compared with $1.26 billion in the year ago period. Analysts polled by Thomson Reuters I/B/E/S were looking for $1.19 billion in net revenue.

Looking ahead, Yahoo projected net revenue in the first quarter would range between $1.020 billion and $1.080 billion, compared with the $1.13 billion expected by analysts.

(Reporting by Alexei Oreskovic; editing by Andre Grenon)

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