Yahoo! reports strong Q1 results

Yahoo! has reported a 1% year on year increase in revenues for the first quarter of 2010, to $1.597 billion, with display advertising up 20%.

Net profit hit $310 million in the first quarter, up from $118m in the same period a year ago.

Income from operations for the first quarter was $188 million, compared to $101 million in the first quarter of 2009, said Yahoo!

These latest results include money paid to Yahoo! by Microsoft following the search advertising partnership the pair entered into earlier this year.

Carol Bartz, Yahoo! CEO, said: “We had a good quarter, delivering income from operations higher than our outlook.

“Thanks to our efforts, our search share has stabilized, and we grew display advertising by 20% year over year. More importantly, guaranteed display grew by 24% as advertisers took advantage of the science, art and scale that only Yahoo! can offer.”