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Yahoo Announces Q1 2010 Earnings: Income Up 87%
Yahoo announced (PDF) their first quarter 2010 earnings and showed a revenue increase of 1% and income increase of 87% from the first quarter of 2009 compared to the first quarter of 2010. Revenues were $1,597 million and income from operations was $188 million for the first quarter of 2010.
Part of the revenues came from Microsoft, where Microsoft agreed to pay Yahoo for their investments in search throughout this year. In the first three months of this year, Microsoft paid Yahoo $78 million in net reimbursements. That included $43 million for net transition cost reimbursements and $35 million for search operating cost reimbursements.
Yahoo’s Chief Executive Officer Carol Bartz said:
We had a good quarter, delivering income from operations higher than our outlook. Thanks to our efforts, our search share has stabilized, and we grew display advertising by 20% year over year. More importantly, guaranteed display grew by 24% as advertisers took advantage of the science, art and scale that only Yahoo! can offer.
For more details, you can see the HTML release at Yahoo Finance.