Yahoo profits beat expectations
Internet media company Yahoo has announced profits and revenues that surpass analyst forecasts.
It reported a 50% increase in revenues and its strongest quarterly growth in two years, or in other words, since the demise of the dot-com boom.
Revenues grew to $248.8m (€250.9m) from $166.1m (€167.5m) a year ago, and earnings were $28.9m (€29.1m) or 5c a share.
Analyst estimates of a 4c per share profit were exceeded.
Yahoo attributed these results to a two year turnaround strategy which had started to pay off, due to the number of small businesses choosing to advertise on its site.
