Yahoo! Inc. (NASDAQ:YHOO) reported its results for the fourth quarter. Net income for the internet information provider fell to $296 million (24 cents per share) vs. $312 million (24 cents per share) a year earlier. This is a decline of 5.1% from the year earlier quarter. Revenue fell 13.2% to $1.32 billion from the year earlier quarter. YHOO reported adjusted net income of 25 cents per share. By that measure, the company beat the mean estimate of 24 cents per share. It beat the average revenue estimate of $1.19 billion.

“Yahoo! continued to make progress in the quarter with operating income increasing ten percent year over year,” said Scott Thompson, Yahoo! CEO. “In 2012 we will be aligning resources behind key areas of focus to enable us to move aggressively in market and grow our business, bringing innovative new products and experiences to both our users and advertisers.”

Competitors to Watch: Google Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), AOL, Inc. (NYSE:AOL), IAC/InterActiveCorp (NASDAQ:IACI), Rediff.com India Ltd. (NASDAQ:REDF), Sohu.com Inc. (NASDAQ:SOHU), Baidu.com, Inc. (NASDAQ:BIDU), InfoSpace, Inc. (NASDAQ:INSP), Intl. Business Machines Corp. (NYSE:IBM), and Demand Media Inc (NYSE:DMD).

EMC Corporation (NYSE:EMC) reported net income above Wall Street’s expectations for the fourth quarter. Net income for the data storage devices company rose to $832 million (38 cents per share) vs. $628.6 million (29 cents per share) in the same quarter a year earlier. This marks a rise of 32.4% from the year earlier quarter. Revenue rose 14% to $5.57 billion from the year earlier quarter. EMC reported adjusted net income of 49 cents per share. By that measure, the company beat the mean estimate of 40 cents per share. Analysts were expecting revenue of $5.49 billion.

Joe Tucci, EMC Chairman and Chief Executive Officer, said, “EMC had a strong and record-breaking 2011. There’s no doubt that cloud computing is completely transforming the IT industry and that Big Data promises to have a similarly profound effect on transforming the way we work and live. Our customers and partners have these transformations in their sights and are embracing EMC’s vision, strategy and best-of-breed portfolio to capitalize on them and realize the full potential of their information assets.”

Competitors to Watch: NetApp Inc. (NASDAQ:NTAP), Dot Hill Systems Corp. (NASDAQ:HILL), Western Digital Corp. (NYSE:WDC), Quantum Corporation (NYSE:QTM), Overland Storage, Inc. (NASDAQ:OVRL), Hewlett-Packard Company (NYSE:HPQ), Xyratex Ltd. (NASDAQ:XRTX), ADPT Corporation (ADPT), Intl. Business Machines Corp. (NYSE:IBM), and Brocade Communications Systems, Inc. (NASDAQ:BRCD).

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

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