Financial Report Financial reports from the largest companies of the world

Yahoo reported 28% profit decrease

The Yahoo's net profit fell 28 percent in the first quarter, but exceeded market expectations, while the company struggles to increase its share of the market for Internet advertising. For this purpose, Yahoo has partnered with Microsoft, seeking to improve its search technology. So far, however, the changes have not yet begun to pay off, state by Yahoo. The profit of the Internet company during the first quarter was 223 million dollars, or 17 cents a share, compared with 310 million dollars, or 22 cents a share, for the same period a year ago. The Yahoo's quarterly results surpassed analysts' forecasts and sent its shares up by 5.1 percent to 16.94 dollars in morning trade on Wall Street. The mixed data on development at Yahoo come two years after CEO Carol Bartz took the lead in trying to revive growth.
Bartz told reporters that the company's revenue will not return to levels prior to the deal with Microsoft before the end of this year. The net revenues of Yahoo, which excludes commissions paid to partner sites, totaled 1.06 billion dollars for the quarter to 31 March, which exceeded market expectations, but 6% less than last year's revenues of 1.13 billion dollars.