Revenue at Yahoo Inc. rose to $1.57 billion for the first quarter ended March 31, up 34% from $1.17 billion a year ago, the company reports.
Gross profit for the quarter rose 29% year-over-year to $909 million, up from $707 million. Q1 net income declined 28% to $160 million from $205 million due to a rise in stock compensation expenses.
"Our business strength allowed us to both invest close to $750 million in buying back stock this quarter while also investing in key operating initiatives that will enhance our solutions for our advertisers and our offerings for our user community,” said CFO Susan Decker.
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