USA Today: Yahoo Profit Up On Online Advertising Growth

Yahoo shares jumped 10 percent late Wednesday following better than expected Q1 financials. Earnings grew from $47 million in Q1 2003 to $101 million in Q1 2004. Revenue, excluding revenues shared by distribution partners, doubled to $550 million leading Yahoo to raise its overall revenue expectations to $2.5 billion. Yahoo now has 5.8 million fee paying customers, up from 2.9 a year ago, but fees and listings revenues made up a relatively small portion of the whole. Search continued to grow disproportionately.