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Yahoo announces tripled earnings in Q1

Yahoo's income has tripled in the first quarter of the year, according to financial results released yesterday (April 22nd).

The internet search giant achieved an income of £271.5 million, compared with £71.6m in the same period last year.

Jerry Yang, co-founder and chief executive officer of Yahoo, said that the search engine was aiming to double its operating cash flow by 2010.

"This quarter's solid performance underscores the fact that we are executing on that plan. Yahoo is beginning to realise the benefits of the very substantial and deliberate long-term investments we've made to capitalise on the opportunities ahead in display and to recapture momentum in search."

However, Steve Ballmer, Microsoft's chief executive, has said that the news will not affect the company's takeover offer.

"I wish Yahoo! all the success with its results, but it doesn't affect the value of Yahoo! to Microsoft," he said, stating that the company would pay "what makes sense for our shareholders". ADNFCR-1536-ID-18564262-ADNFCR