Saturday, Apr 25, 2015Saturday, Apr 25, 2015
Digital Life
 

Yahoo profit beats estimates at $390m

Published on Apr 16, 2014 6:13 AM
 
A Yahoo logo is pictured in front of a building in Rolle, 30 km east of Geneva, taken on Dec 12, 2012. 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. -- FILE PHOTO: REUTERS

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.

 
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!