Yahoo Q1 profit drops 28% | india | Hindustan Times
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Yahoo Q1 profit drops 28%

india Updated: Apr 20, 2011 22:47 IST

Yahoo! said on Tuesday that net profit fell 28% in the first quarter from a year ago to $223.0 million while revenue declined 24% to $1.2 billion.

The quarterly results, while down year-over-year, were better than expected by Wall Street analysts and Yahoo! shares gained 2.9% to $16.5 in after-hours trading.

"We are solidly executing toward our plan for returning Yahoo! to sustainable revenue and profit growth," said Carol Bartz, chief executive, Yahoo!, in a statement.