Yahoo posts US$210,000 profit for first quarter

Search engine and directory pioneer Yahoo Inc. has posted its second succcessive quarterly profit - this time US$210,000 for the quarter ended March 31. Last year it lost $2.3 million on revenues of $19m.

Search engine and directory pioneer Yahoo Inc. has announced a net income of US$210,000 on revenues of $9.515 million for its first fiscal 1997 quarter, ended March 31.

It was Yahoo's second consecutive profitable quarter. Yahoo reported a net income of $96,000 on revenues of $8.551 million for the quarter, ended Dec. 31, the first time it turned a profit since the first quarter of 1996 when it earned net income of $81,000 on $1.733 million in revenues.

For the year ended Dec. 31, the company reported a net loss of $2.3 million, or 9 cents per share, on revenues of $19 million.

"We are focusing on building Yahoo services and the Yahoo brand on a global basis and will continue to place a higher priority on such investments rather than on delivering short-term profits," said Tim Koogle, Yahoo's president and CEO, in a statement.

Yahoo, which currenlty calls itself an Internet media company, also said that its page views grew to 30 million per month, up 50% from December 1996.

Yahoo Inc., with headquarters in Santa Clara, California, can be reached on the World Wide Web at http://www.yahoo.com/.

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