Yahoo (NASDAQ:YHOO.NASDAQ) has posted a 22 percent increase in first quarter revenue ahead of the sale of its core internet assets to Verizon (NYSE:VZ.NYSE).
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.
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.
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.