Yahoo Inc. Said in its first quarter earnings result that it gross revenue grew to USD1.3 billion from USD1 billion reported in the previous year.
The result showed a general improvements in its top and bottomline overview for the quarter and beyond.
Commenting on the result, Marissa Mayer, CEO of Yahoo said “Our Q1 performance reflects solid financial and operational execution in the new year, with more than $1.3 billion in GAAP revenue delivered. These results are the product of our teams’ tremendous focus and dedication to our users and advertisers”.
“As we enter our final quarter as an independent company, we are committed to finishing strong and planning for the best possible integration with Verizon. With the transaction anticipated to complete in June, I’ve never been more proud of the improvements we’ve made to the business and the value we’ve delivered to our shareholders, ” she added.
Yahoo was acquired by Verizon in the second quarter of 2016 after a bid that saw the likes of Google and Amazon loosing out.