Yahoo! Inc. Tuesday reported results for its first quarter that ended March 31, 2008.
The Internet giant reported revenues at 1,818 million, a 9% increase compared to the same quarter a year before.
“This past quarter’s financial results, important acquisitions, and, most importantly, the string of successful product rollouts demonstrate our enhanced execution against our longer-range goals. As we look forward, we are particularly excited by the potential capability of AMP! from Yahoo!, our revolutionary new ad management platform to help us further extend our lead in display advertising, which more than any other area of online advertising we believe has great potential for growth,” said Sue Decker, president, Yahoo! Inc.
“As outlined in our investor presentation, we believe we can significantly accelerate our revenue growth, return to our historically high margins, and double our operating cash flow by 2010. This quarter’s solid performance underscores the fact that we are executing on that plan. Yahoo! is beginning to realize the benefits of the very substantial and deliberate long-term investments we’ve made to capitalize on the opportunities ahead in display and to recapture momentum in search,” said Jerry Yang, co-founder and chief executive officer, Yahoo! Inc.
“Not only does Yahoo! have a unique franchise, it increasingly has industry-leading tools, technology and, most importantly, people. It is the hard work, dedication and professionalism of our people that is our greatest asset—and this quarter’s performance demonstrates how well they can perform under unusually challenging circumstances,” he added. |
