No. 2 Internet service reports higher profit, audience growth

Thursday, April 6, 2000 | 10:47 a.m.

Buoyed by accelerating growth overseas, Yahoo! on Wednesday posted stronger-than-expected profit and revenue for the first quarter.

Yahoo!, the No. 2 Internet service, said it earned $78 million in the first quarter, up from $1.8 million a year earlier.

The company's sales rose to $228 million from $103 million and its audience grew briskly. Yahoo! said it had more than 145 million unique visitors in March, up from 60 million a year earlier. And those users looked at an average of 625 million pages a day, up from 275 million.

"They are beating my model on all key metrics," said Jamie Kiggen, an analyst with Donaldson Lufkin & Jenrette. "Notably their revenue growth this quarter was as big as it was a year ago. And they have a much bigger base."

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