NEW YORK Yahoo said its first-quarter earnings more than doubled, thanks to more money coming to online advertising.
The Sunnyvale, Calif., company said it had net income of $205 million, up from $101 million in the previous year. Revenue was up 55 percent to $1.2 billion. Excluding revenue shared with search partners, Yahoo had revenue of $821 million.
Yahoo said its marketing revenue rose 44 percent to top $1 billion in the quarter. The company did not break out sales from search and brand advertising, although CEO Terry Semel told analysts in a conference call that growth came across the board.
According to estimates by Piper Jaffray, brand advertising revenue rose 35 percent from the same period a year earlier, though down seasonally from the traditionally more active fourth quarter. The investment bank estimated search revenue was up 13 percent from last year.
Yahoo reported it ended the quarter with 372 million users, a 36 percent increase from a year earlier. Importantly, those users spent more time on Yahoo, increasing average daily page views by 34 percent. Yahoo had 176 million active registered users at the end of the quarter, up 25 percent year over year.
Yahoo said a big driver of the increased user engagement was the spread of Internet broadband. About 70 percent of Yahoo users connect through high-speed lines, according to the company.
"The ability to have it always on, always available, [and] the quality of the site has increased their usage," said Dan Rosensweig, Yahoo's chief operating officer, during the conference call.