Accounting Change Slashes Yahoo's Net by 22% in Q1

20 April 2006

    SUNNYVALE, CALIFORNIA - First-quarter profit fell 22% amid changes in Yahoo's method of accounting for stock-based compensation. However, revenue at rose more than 30%, thanks to continued growth in online advertising.
    The internet titan said net income fell to $159.9 million (€130.28m; £90.02m) versus $204.6 million a year earlier. The result is in line with analysts' expectations.
    "Yahoo is really off to a good start in 2006," claimed ceo Terry Semel in a conference call with analysts.