[1]Struggling Internet pioneer Yahoo! on Tuesday saw its faltering stock price bolstered by news that its profit climbed 28 percent in the first three months of the year.
The California-based firm reported net income of $286 million on revenue just shy of $1.08 billion in the quarter. Yahoo! shares jumped more than two percent on the news, quickly hitting $15.32 a share in after-market trade.
"In the first quarter, Yahoo!'s results came in at the high end of our guidance range and beat consensus on revenue and profits," said chief executive Scott Thompson.
"We also made changes to resize the organization and establish a new leadership structure to quickly deliver the best user and advertiser experiences at scale."
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