By Marcus Leach

The last quarter of 2011 saw Yahoo's profits fall 5% as they struggled to maintain their market share due to growing competition.

The 5% drop equates to a profit of $296 million (£189 million), and comes on the back of the news last week that co-founder Jerry Yang left the company.

Only three weeks ago, the company hired former PayPal president Scot Thompson as its new chief executive.

"There is no question we need to do better and we will," he said.

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