Yahoo profit falls in first quarter

Yahoo Tuesday reported earnings of $US142 million, falling short of expectations

Yahoo reported Tuesday that earnings for the first quarter were $US142 million, slipping from $US160 million one year earlier and falling short of expectations.

The company reported EPS (earnings per share) of $US0.10 on revenue of $US1.67 billion for the quarter ending March 31. The online media company had EPS of $US0.11 a share on revenue of $1.57 billion in the first quarter of 2006.

Analysts who follow Yahoo forecast earnings of $US0.11 per share, according to Thomson Financial.

Although struggling against a surge by rival Google, Yahoo has recently scored some big deals. On April 10, it said it will be the exclusive provider of sponsored search and contextual ads for Viacom Web sites, which include MTV.com, VH1.com and Comedycentral.com. On Monday, Yahoo announced an extension of its revenue-sharing deal with 12 newspaper chains in which Yahoo serves as the exclusive online distributor of the newspapers' advertising.

But Yahoo heard some bad news last week when Google announced its planned $US3.1 billion acquisition of DoubleClick, a service for advertisers and Web publishers that delivers online ads and manages ad campaigns.

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