Yahoo! Inc. has reported Q1 2016 financial results. Overall, mobile revenue increased 25% during the first quarter, up from $235m in 2015 to $260m in 2016.
Yahoo! mobile revenue increases
Gross search revenue however decreased 15% to $820m during the first quarter, whilst GAAP search revenue was also down 9%. Similarly, Yahoo noted a decline in GAAP display revenue of 1% to $463m.
“I’m pleased that we delivered Q1 results in line with our expectations. Our 2016 plan is off to a solid start as we continue to focus on driving efficiency, lowering costs, and improving long-term growth. In tandem, we made substantial progress towards potential strategic alternatives for Yahoo. Our board, our management team, and I are completely aligned on this top priority for shareholders.”
Among the strategic mobile highlights of the company are the introduction of a better mobile search experience. Yahoo aims to make it easier for consumers to find relevant information using their mobile devices. In addition, the brand launched new features for its Android and iOS apps.
Yahoo also expanded its Mobile Developer Suite to include new features.
Ken Goldman, CFO of Yahoo, added:
“We delivered financial results at the high end or above our guidance ranges. We also achieved free cash flow of $297m through improved working capital efficiencies, excellent cost controls, reduced capital expenditures and a large tax refund. While we remain focused on the strategic alternatives process as a top priority, our employees showed their determination and commitment to Yahoo by executing on our operating plan.”