Yahoo Q1 Results: Revenue Flat Year-Over-Year, Net Earnings Up 28%

Yahoo today reported its financial results for the first quarter of 2012, and after three years of declining annual revenues, the company looks like it may just be on track to stop the streak -- or at least slow it down. Yahoo posted first quarter revenue on a GAAP basis of $1.22 billion, up one percent from the $1.2 billion in GAAP revenue Yahoo reported in the first quarter of 2011 (which itself was down 25 percent year-over-year from its Q1 2010 revenue.) This is the first time Yahoo revenues have grown on a year-over-year basis since the third quarter of 2008. At the bottom line, Yahoo's performance was solid, with net income of $286 million, up 28 percent year-over-year from the $223 million the company reported in Q1 2011. Net earnings were 17 cents per diluted share. Overall, these results are largely in line with what Wall Street analysts expected from the company.

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