Yahoo reported lower revenue Tuesday for the
first quarter but earnings rose thanks to cost-cutting by company
head Marissa Mayer.
The struggling internet pioneer said that its revenues were 1.14 billion dollars, a 7-per-cent decline from a year earlier. But profits rose to 390 million dollars, compared to 286 million dollars in the year ago quarter.
"I'm pleased with Yahoo!'s performance in the first quarter," said Mayer in a statement. "We saw continued stability in our business, strengthened our team, and started the year with fast execution against our products and partnerships."
Most Popular Stories
- James Foley Beheading Video Is Real Thing: White House
- McDonald's Packages Coffee for National Distribution
- Apple Stock Bounces Back Big Time
- Faith Groups Divest From Fossil Fuels
- Notes From the July FOMC Meeting
- Castro-Blanco Joins Fifth Street Finance Board
- Honda's Safe Approach Pays Off in Sales
- Ballmer Steps Down From Microsoft Board
- GE Healthcare Bringing Jobs to Massachusetts
- Target Slashes Annual Profit Outlook