Yahoo! reports 36pc profit increase while revenue slides 7pc

17 Apr 20131 Share

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Lower operating costs helped buoy internet giant Yahoo!’s first-quarter profit up 36pc to US$390m from the same period last year, while its revenue for the quarter dipped 7pc to US$1.14m.

Revenue excluding traffic acquisition costs amounted to $1.074m for the first quarter of 2013, flat compared to the same period last year.

Income from operations totalled US$186m, and earnings per share amounted to US$0.35 during Yahoo!’s first quarter of the year.

Yahoo! CEO Marisa Mayer said she was pleased with the company’s performance for the quarter.

“We saw continued stability in our business, strengthened our team, and started the year with fast execution against our products and partnerships,” Mayer said.

“We are moving quickly to roll out beautifully designed, more intuitive experiences for our users. I’m confident that the improvements we’re making to our products will set up the company for long-term growth.”

Mayer took on the job of Yahoo! CEO in July to return the company to profitability. She has said that building better online products that will have consumers spend more time on Yahoo! properties – which would be a draw for advertisers – and developing services for mobile devices are key to reviving Yahoo!, Reuters reported.

Yahoo!’s advertising revenues saw ups and downs during the first quarter.

Display advertising revenue decreased by 11pc to US$402m, compared to US$454m during the year-ago period.

Search advertising revenue increased by 6pc during the quarter to US$490m, compared to US$384m for the first quarter of 2012.

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Tina held senior editorial positions at daily newspapers in Ottawa and Toronto

editorial@siliconrepublic.com