Yahoo last night reported that its net profit in the first quarter of this year more than doubled from a year earlier. It also said it expected its share of the internet search market to improve after months of decline.
Yahoo's Q1 net profit rose to $310m from $118m a year ago. Revenue rose 1% to $1.6 billion. The profits were better than analysts had expected.
Chief executive Carol Bartz said display advertising rose by 20% from a year earlier.
Yahoo said its Q1 results included reimbursement payments from its internet search partner Microsoft totalling $78m.
Yahoo saw a slight uptick in March in its share of the lucrative US search and advertising market, according to online tracking firm comScore, moving from 16.8% to 16.9%. Google remained the overwhelming search leader at just over 65%. Bing, the search engine of Yahoo's search partner Microsoft, increased its share of the US search market in March to 11.7% from 11.5%.
