Yahoo has reported revenues of $1.2bn for the first quarter of 2011, a decrease of 25% compared to $1.6bn for the same period last year.
Revenue from display increased to $523m compared to $491m for the previous year quarter, while revenue from search decreased to $455m from $841.2m for the same quarter previous year. Other revenue also decreased to $237m from $265m for the same quarter previous year.
The company posted an operating income of $189.7m for the first quarter of 2011, compared to an operating income of $188m in the same period a year ago.
For the quarter ended 31 March 2011, net income attributable to Yahoo was $223m, compared to a net income of $310.2m for the same period last year.
Net income per diluted share for the quarter was $0.17, compared to a net income per dilute share of $0.22 for the previous year quarter.
Yahoo chief executive officer Carol Bartz said they are executing a plan for returning Yahoo to sustainable revenue and profit growth.
"During the quarter, we beat the midpoint of revenue guidance while continuing to deliver on the bottom line. We continued to extend our lead as the world’s premier digital media company with users to Yahoo! branded properties increasing 15% year over year and minutes spend increasing 17%," Bartz said.
