Updated 2:15 p.m. PT As investors braced to learn about CEO Scott Thompson's plan to revive the company, Yahoo reported a 38 percent increase in first-quarter net income on basically flat revenue compared with a year earlier.
The company said that revenue, minus traffic acquisition costs, was $1.077 billion for the quarter ended March 31. That's just a 1 percent increase over the first quarter of 2011.
Income from operations decreased 11 percent to $169 million in the first quarter of 2012, compared to $190 million in the first quarter of 2011. Still, that qualified … Read more