Yahoo announced a first quarter revenue of $1.82 billion with a net income of $524 million, or 37 cents per share. Excluding special items, Yahoo's earnings were 11 cents per share and that beats analyst expectations by two cents. Analysts polled by Thomson Financial predicted earnings of 9 cents per share and $1.32 billion in net revenue.
Yahoo Inc. said Tuesday its first-quarter net income rose to $542 million, or 37 cents a share, from $142 million, or 10 cents a share in the same period a year earlier. The recent period's earnings include a gain of $401 million related to the IPO of Alibaba.com, in which Yahoo has an ownership stake. Meanwhile revenue in the period ended in March rose to $1.82 billion from $1.67 billion. Yahoo's net revenue, or revenue excluding payments made to other Web sites to acquire traffic, rose to $1.35 billion.