Shares of Yahoo fell sharply in after-hours trading today after the company's first-quarter earnings revealed a sharp fall in display advertising revenue.
Yahoo's earnings rose 26 percent to $420 million in the first quarter of 2013 after stripping out onetime charges on essentially flat sales.
Wall Street had expected a 9 percent increase in net income on 2 percent sales growth. Revenue, excluding traffic acquisition costs, was $1.07 billion for the first quarter of 2013, flat compared to the first quarter of 2012.
Non-GAAP net earnings per diluted share was 38 cents in the quarter compared to … Read more