The company posted a gross profit of $836.89m for the first quarter ended March 31, 2011, compared to $890.57m for the same period of 2010. Total operating expenses for the first quarter of 2011 were $647.15m, compared to $702.55m for the same period of 2010.

The company reported income from operations of $189.74m for the first quarter ended March 31, 2011, compared to $188.02m for the same period of 2010. Net income was $224.83m for the first quarter of 2011, compared to $312.27m for the same period of 2010.

The company posted provision for income taxes of $52.12m for the first quarter of 2011, compared to $49.44m for the same period of 2010.

According to the company, revenue ex-TAC for the second quarter of 2011 is expected to be in the range of $1.07 billion to $1.12 billion. Total expenses less TAC for the second quarter of 2011 are expected to be in the range of $915m to $935m. Income from operations for the second quarter of 2011 is expected to be in the range of $160m to $190m.

Carol Bartz, CEO of Yahoo!, said: “We are solidly executing toward our plan for returning Yahoo! to sustainable revenue and profit growth. During the quarter, we beat the midpoint of revenue guidance while continuing to deliver on the bottom line.

“We continued to extend our lead as the world's premier digital media company with users to Yahoo! branded properties increasing 15 percent year over year and minutes spend increasing 17 percent."

Will the firm increase its revenue in Q2?

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