Yahoo! Inc. Reports 42% Drop In Q1 Earnings

(RTTNews) - Yahoo! Inc. (YHOO) reported earnings for first quarter that declined compared to the same period last year.

The company said its profit totaled $80.07 million, or $0.08 per share. This was lower than $137.99 million, or $0.15 per share, in last year's first quarter.

Analysts had expected the company to earn $0.07 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 11.4% to $1.09 billion. This was down from $1.23 billion last year.

Yahoo! Inc. earnings at a glance:

-Earnings (Q1): $80.07 Mln. vs. $137.99 Mln. last year. -Earnings Decline (Y-o-Y): -42.0% -EPS (Q1): $0.08 vs. $0.15 last year. -EPS Decline (Y-o-Y): -46.7% -Analysts Estimate: $0.07 -Revenue (Q1): $1.09 Bln vs. $1.23 Bln last year. -Revenue Change (Y-o-Y): -11.4%