Yahoo first-quarter results soar

YahYahoo reported a jump in both net income and revenue for its first financial quarter.

Yahoo reported a jump in both net income and revenue for its first financial quarter.

The company reported net income for the period ending 31 March of $101.2m, up from $46.7m in the same quarter a year earlier, citing an uptake in paid services and its acquisition of paid search listing provider Overture Services for the increase.

Revenue for the first three months of the year soared to $757.8m, from $282.9m in the same period last year.

"This is, by far, the most successful quarter in Yahoo's history," said company chairman and chief executive officer Terry Semel.

With a solid first quarter under its belt, Yahoo revised its expectations for the full year.

The company now expected revenue excluding traffic acquisition costs, to be between $2.41bn and $2.52bn, up from a January estimate of between $2.12bn and $2.25bn.

The adjusted forecast includes the acquisition of European comparison-shopping website Kelkoo announced last month.

Joris Evers writes for IDG News Service

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