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Yahoo handily exceeds Q1 results and splits stock (YHOO, EBAY, AMZN, ASKJ, INSP, CNET, LOOK) By Bambi Francisco
SAN FRANCISCO (CBS.MW) -- Late Wednesday, Yahoo (YHOO) said that it earned a first-quarter profit of $101 million, or 14 cents per share, up from $47 million, or 8 cents a share, in the year-earlier period. Yahoo also announced a stock split. Strength in advertising helped Yahoo increase first-quarter sales to $758 million from $283 million last year. Excluding acquisition costs, sales hit $550 million. Analysts surveyed by Thomson First Call expected 11 cents per share, on average, on sales of $498 million. On the high end, some analysts expect Yahoo to earn 12 cents and deliver nearly 3 percent more revenue than the average estimate, or $512 million. Shares of Yahoo lost 42 cents in regular trading. Yahoo traded at $51.70, up $3.35, or 7 percent, in after-hours action.