24 April 2008 | Team Tamar

Yahoo! Reports First Quarter Earnings

Yahoo! has reported an income of $542.2m (£271.5m) for their first quarter this year. This is compared to the $142.4m they reported for the same period a year earlier. This is part of Yahoo’s plan to prove that it’s worth more than the unsolicited takeover bid made by Microsoft earlier this year.

The financial results failed to sway analysts that are still convinced that the internet firm won’t escape the grasp of the US software Giant Microsoft.

"If they’re going to stay independent, they’re probably still going to have to come up with some kind of a deal with either Google Inc. or  AOL or both," said Jeffrey Lindsay, Internet analyst with Sanford C. Bernstein & Co. in New York.

Team Tamar