Yahoo has reported its first quarter financials for 2010, showing an infinitesimal rise in revenue, and substantial profit growth.
The company’s revenue rose from $1.58 billion to $1.597 billion, or around one percent from the first quarter of 2009 to 2010. Income from operations rose somewhat dramatically from $101 million to $188 million, an 86% rise year over year. Total net income rose to $301 million from $118 million.
Both free cash flow, and cash from operating activities fell, 70% and 45% respectively. Yahoo’s earnings from non-operational sources rose due both to the sale of Zimbra and income from Microsoft.
Yahoo, despite many rumors of its demise, is still an internet giant, and deserves to be treated as such. Yahoo expects some 1.6 billion dollars in revenue for the second quarter of 2010, meaning that Yahoo will do over 6 billion dollars in revenue for 2010, if trends hold. Twitter, on the other hand, will be lucky to do .05 billion (50 million) dollars.
Among the notable Yahoo events during the quarter included the approval of the Microsoft-Yahoo search deal, the purchase of Citizen Sports, and the company’s fifteenth anniversary.
Yahoo made a lot more money this quarter than it did early last year. Sign of things to come, or just a fluke? Sound off in the comments.