Yahoo tops Q1 as online ad revenue jumps over $1 bln
SAN FRANCISCO (AFX) -- Yahoo said Tuesday first-quarter profit more than doubled as its online advertising revenue surged to more than $1 billion for the first time.
Late Tuesday, Yahoo said it earned $205 million, or 14 cents per share, up from $101 million, or 7 cents, a year ago. Excluding a one-time gain of $15 million, or 1 cent per share, Yahoo earned 13 cents, topping the 11-cents estimate of analysts.
Quarterly sales rose 55% to $1.17 billion from $758 million. Excluding payments to Web distribution partners, Yahoo generated revenue of $821 million, topping analysts' expectations of $795 million.
Yahoo shares rose to $34.75 in after-hours action. The stock edged up 67 cents to $33.22, in regular trading. Google , which reports Thursday and also benefits from stronger online ad spending, saw it shares rise 4 percent to $198.90 in late trading.
Going forward, Yahoo said it expects to generate second-quarter sales, excluding traffic-acquisition costs, between $855 million and $895 million, topping analyst estimates of $842 million.
For the full year, Yahoo sees sales rising to between $3.5 billion and $3.7 billion, up 35% percent from a year ago and at the high end of analyst estimates. Analysts estimate Yahoo will earn 12 cents in the second quarter and 52 cents for the full year.
Details
Of Yahoo totals sales, $1.025 billion came from its marketing and listings business, which include Yahoo's traditional and direct-marketing sales as well as Yahoo's HotJobs unit.
This is the first time Yahoo is reporting the HotJobs' unit as part of Yahoo's marketing services group. In the fourth quarter, Yahoo's marketing services and listings businesses generated revenue of $948 million.
Yahoo generated $149 million in its subscription business, as customers purchased services ranging from personal dating services, extra e-mail storage and Internet access through Yahoo's joint offerings with SBC Communications , BT and Rogers Cable, based in Canada.
International revenue accounted for $355 million of the revenue, up 124 percent from last year.