An upturn in online advertising helped profits at Internet firm Yahoo almost treble in the three months to the end of March. Net profit rose to $310 million from $118 million in the same period a year ago.
The company’s takings were helped by its search and advertising partnership with Microsoft and sale of the Zimbra email service. But after subtracting commissions paid to its advertising partners, Yahoo’s revenue slipped slightly to $1.13 billion.
The firm’s chief financial officer, Tim Morse, said that its search advertising business “just didn’t seem to grow at the pace they had previously”. However its display advertising business was strong, growing 20 per cent year-on-year.