Yahoo Q1 revenue declines, but beats estimates

10:48, April 20, 2011      

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Yahoo Inc. on Tuesday reported that its first quarter revenue decreased by 24 percent year over year. But its numbers topped analysts' estimates.

The company posted GAAP revenue of 1.21 billion for the first quarter, a 24 percent decrease from the first quarter of 2010. It said the decline was primarily due to the required change in revenue presentation related to its search agreement and revenue share deal with Microsoft.

Net earnings were 17 cents per share, decreasing by 23 percent compared to 22 cents in the same period last year. Analysts surveyed by Thomson Reuters predicted 16 cents a share.

Analysts said Yahoo had benefited from the strong demand for display advertising as its sites attract more visitors. According to data from ComScore, the company's user base grew 15 percent year over year to 179.5 million in March, surpassing Google which has 176.8 million.

Yahoo struck a deal with Microsoft in July 2009 to compete with Google. Under the agreement, Yahoo uses Microsoft's search technology on its sites and shifts its search marketing platform for advertisers to Microsoft. The agreement took effect last October.

For the second quarter, Yahoo estimated revenue to be in the range of 1.075 billion to 1.125 billion excluding operating income and commissions paid to partners. Analysts gave an average forecast of 1.1 billion in the revenue.

Source: Xinhua
 
 
     
 
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