Yahoo earnings rise, but revenue treads water
- 18 April, 2012 07:30
Yahoo reported Tuesday that its first-quarter profit came to US$286 million, up 28 percent from the same quarter last year, but the company's total revenue revealed much more modest gains.
Yahoo brought in $1.2 billion in total revenue for the first quarter of 2012, up just 1 percent year over year.
Search ad revenue rose 3 percent to $470 million, but display ad revenue fell 2 percent to $511 million. Meanwhile, the digital ad market in the United States grew 23 percent in the same year-over-year comparison, according to eMarketer.
Earlier this month, Yahoo laid off about 2,000 workers, roughly 14 percent of its workforce.
The company's new CEO, Scott Thompson, is expected to lay out his vision for turning the company around in a conference call for financial analysts and shareholders Tuesday afternoon.
Cameron Scott covers search, web services and privacy for The IDG News Service. Follow Cameron on Twitter at CScott_IDG.