Yahoo's grows Q1 revenue 22 percent to $1.3b
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Yahoo (NASDAQ: Yahoo! [YHOO]) has posted a 22 percent increase in first quarter revenue ahead of the sale of its core internet assets to Verizon (NYSE: Verizon Communications [VZ]).

A highlight of the result was the strong performance of Yahoo's mobile, video, native and social advertising units, Maven, which grew its profit by 35.6 percent to $529 million.

Total revenue increased to $1.33 billion from $1.09 billion year-on-year.

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Yahoo's net income was $99.4 million, or 10 cents per share, a massive turnaround compared with last year's net loss of $99.2 million, or 10 cents per share.

Yahoo as we currently know it will cease to exist in June when it says its deal with Verizon will come into effect.

The telco will pay $4.48 billion for Yahoo's formerly market-leading online assets including its internet search and email businesses.

Russian intelligence agents charged over Yahoo hack
Russian intelligence agents charged over Yahoo hack

Verizon was slated to pay much more under the original deal but the firm haggled Yahoo down $350 million after two massive hacks against the company compromised millions of users' data and damaged the Yahoo brand.

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