Yahoo! reports Q1 earnings: revenue falls 1%, search revenue up, net income down

The Internet company Yahoo! tried to lower expectations for its Q1 report, but investors will probably be disappointed to hear the actuals as the company reported no revenue growth in the quarter, and earnings came in at $312 million, down from $390 million in the first quarter of 2013.

“I am really pleased by our first quarter performance, marking our best Q1 revenue ex-TAC since 2010. Buoyed by our 9th consecutive quarter of year-over-year growth in Search revenue ex-TAC and our first quarter of Q1 year-over-year growth in display revenue ex-TAC since 2011, Q1 was an early and important sign of growth in our core business,” said Yahoo CEO Marissa Mayer. “And, with mobile pivotal to our future growth, we’re delighted to now see more than 430 million monthly mobile users accessing Yahoo’s new products.”

OK, whatever.

Here are the numbers:


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