Net revenue, which excludes fees paid to partner websites, was roughly $1.064 billion, a touch ahead of the $1.055 billion average of analyst expectations.
Looking forward, Yahoo projected net revenue between $1.08 billion and $1.13 billion in the second quarter. Analysts were looking for $1.1 billion.
Yahoo is one the most popular destinations on the Web and the No. 1 provider of online display ads in the United States, but the company is facing increasing competition from social networking service Facebook and continuing pressure from search leader Google Inc
(Reporting by Alexei Oreskovic; Editing by Gary Hill)