Yahoo! reports strong first quarter results
21 April 2005
Yahoo! has announced this week that its quarterly profit doubled during the first three months of the year.
The internet giant said the strong results were due to web advertising growth and the company's share price soared five per cent on the news.
Yahoo! posted a net income of $205 million, or 14 cents a share, in the first quarter, up from $101 million, or seven cents a share, a year ago.
Excluding payments that Yahoo! makes to sites that carry its web search ads, net revenue was $821 million, up 49 per cent from $550 million, while total revenue rose 55 per cent to $1.2 billion.
Revenue from broadband subscriptions, online dating and other fee-based services was also ahead of company targets, rising 61 per cent from a year earlier to $149 million.
Yahoo! has issued a healthy forecast for the current quarter after beating analysts' forecasts over the first quarter of the year.
Yahoo.com is the leading search site in the United States.
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