Buoyed by a continued rebound in brand advertising, Yahoo Tuesday reported a first-quarter profit of $310 million, or 22 cents per share. That easily beat the consensus analyst expectation of 9
cents a share and was nearly triple the 8 cents a share the company earned a year ago. Net income for the period came in at $1.13 billion, slightly below the analyst estimate of $1.17 billion.
Gross revenue of $1.6 billion was up 1% from a year ago.
Yahoo’s earnings were boosted by 7 cents a share through the sale of its Zimbra email unit and repayment it
received from its search and advertising partnership with Microsoft.
“We had a good quarter, delivering income from operations higher than our outlook,�
said Yahoo! Chief Executive Officer Carol Bartz in a statement. “Thanks to our efforts, our search share has stabilized, and we grew display advertising by 20% year over year. More
importantly, guaranteed display grew by 24% as advertisers took advantage of the science, art and scale that only Yahoo! can offer.�
More on Yahoo’s
first-quarter results in the company’s release.