Updated 3:23 p.m. PDT with additional information following Yahoo's conference call.
Yahoo earnings soared during its first quarter on the back of an advertising revival, cost cuts, and the realization of its search deal with Microsoft.
Revenue in the first quarter was $1.6 billion, up just 1 percent from the first quarter of last year. Excluding traffic acquisition costs, net revenue was $1.13 billion, or roughly flat with analyst expectations of $1.17 billion. Revenue from display advertising on Yahoo's site grew 20 percent compared to the prior year.
Net income was $310 million … Read more