Yahoo has reported a 7% decrease in its revenue to $1.14bn for the first quarter of 2013, compared to $1.22bn it reported for the corresponding quarter in 2012.
The company’s net income increased to $390.28m, or $0.35 diluted per share, for the quarter, compared to $286.34m, or $0.23 diluted per share, for the same period last year.
Revenue from the company’s search operations declined 10% to $424.68m for the quarter and display revenue decreased to $455m.
Yahoo CEO Marissa Mayer said the company saw continued stability in its business in the first quarter is set for long-term growth with improvements to its products.
Mayer, who joined Yahoo in July 2012 from Google, has been acquiring startups to focus on mobile technology.
During the quarter, Yahoo acquired Snip.it, Alike, and Jybe to further accelerate its efforts in mobile and personalisation business.
Yahoo also purchased Summly, a new application developed by a UK teenager, that sorts news by topics in quick bites for smartphones.
Mayer said: "We are moving quickly to roll out beautifully designed, more intuitive experiences for our users."
