Yahoo profit beats estimates at $390m
Published on Apr 16, 2014 6:13 AM
NEW YORK (AFP) - Yahoo reported a stronger-than-expected first-quarter profit on Tuesday, results hailed by chief executive Marissa Mayer as showing growth in the Web giant's "core" business.
The California Internet company said it earned US$312 million (S$390 million) on revenues of US$1.1 billion, topping most analyst forecasts.
Profits were down 20 per cent from a year ago with revenues nearly flat for Yahoo, which has been making major shifts under Mayer, a former Google executive.
Mayer said the first quarter data "was an early and important sign of growth in our core business". "And, with mobile pivotal to our future growth, we're delighted to now see more than 430 million monthly mobile users accessing Yahoo's new products," she said in the earnings release.
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