Yahoo! reported first-quarter revenue down 7 percent from a year earlier to USD 1.14 billion. Display revenue fell 11 percent to USD 455 million, and search revenue was down 10 percent to USD 425 million. While paid clicks were up 16 percent from a year earlier, the price per click fell 7 percent. Total revenue excluding traffic acquisition costs was flat year-on-year, at USD 1.07 billion.
The internet company reported adjusted EBITDA of USD 386 million, also unchanged compared to the same period of 2012. Net profit jumped 36 percent to USD 390 million, and EPS rose to USD 0.35 from USD 0.23 a year earlier. The group finished the quarter with USD 5.4 billion in cash.
For the second quarter, Yahoo expects to report USD 1.06-1.09 billion of revenue excluding traffic acquisition costs, USD 350-370 million adjusted EBITDA and USD 190-210 million in non-GAAP operating income.
Company CEO Marissa Mayer said she was pleased with first quarter performance, referring to stability, strengthening the team and fast execution in new products and partnerships. She sees ongoing improvements setting up the firm for long-term growth.
