Yahoo revenue up 9% in first quarter

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Sunnyvale, Calif.—Yahoo reported Wednesday that its first-quarter revenue rose 9% to $1.8 billion. Net income grew to $542.2 million, or 37 cents a share, up from $142.4 million, or 10 cents a share, in the first quarter of 2007. Marketing services revenue rose 7% to $1.5 billion, from $1.4 billion in the year-earlier period.

Microsoft Corp. has made an unsolicited $44 billion bid for Yahoo in an effort to challenge Google in online advertising. Yahoo is currently mulling the offer over.

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