Yahoo! Inc. (Nasdaq: YHOO) fell 4 3/16 to 161 3/8 early Thursday, even after the Web portal company reported first-quarter results that were slightly above analysts’ estimates. Income excluding special items totaled $63.3 million, or 10 cents a share; analysts were looking for 9 cents. Revenue rose 120 percent from a year earlier to $228.4 million. The company also reported a jump in the number of registered users.
“Our results in the first quarter continue to demonstrate that we have created a global service that resonates with users and a business with inherent self-reinforcing scale from which strong financial results can be derived,” said Chairman and Chief Executive Officer Tim Koogle. “We intend to leverage our powerful platform and aggressively extend our position as much as possible on all fronts as we go forward.”
The Santa Clara, California-based company also said Susan L. Decker will replace the retiring Gary Valenzuela as chief financial officer. Decker will join the company in June. She comes from Donaldson, Lufkin & Jenrette, where she was global head of research.