Yahoo Q1 up 36%; revenue on the decline
Zee Media Bureau
San Francisco: Yahoo Inc's first quarter revenue Yahoo surged to USD 390 million during the first three months of the year, as per news reports.
The company posted a 36 percent increase from income of USD 286 million, or 23 percent per share, at the same time last year.
The Internet company continued to feel the effects of declining traffic to its Web properties and of falling display advertising sales, sending its shares down more than 4 percent.
Yahoo Chief Executive Marissa Mayer said the company's plan to reverse the trend and restore the one-time Web powerhouse to its former glory was on track and would start showing results in the second half of the year. But she repeated previous comments that revitalizing Yahoo will be a long-term project measured in years.
Yahoo also projected net revenue for the second quarter of USD 1.06 billion to USD 1.09 billion in a presentation posted on its website after its earnings release on Tuesday.
With Agency Inputs