Search engine Yahoo saw its first-quarter profits slip by 11 per cent in 2007 as its struggle against rival Google continues.
The California-based company's net profit for the first three months ending March 31st reached just $142 million (£70.66 million), down from the $160 million (£79.62 million) amassed in the equivalent period last year.
A 16 per cent decrease in operating income from $201 million (£100 million) to $169 million (£84.1 million) was responsible for the fall, despite revenues rising by seven per cent.
Despite the disappointing results Yahoo's chief executive Terry Semel said a "solid financial performance" had been delivered in the first three months of 2007.
"Yahoo remains committed to delivering both increased value for advertisers and the highest quality content to the majority of the world's internet population," he said.
"With this powerful combination, we believe that Yahoo is well positioned to capture the major growth opportunities we see ahead for the future."
Standing in its way is Google, which controls nearly 50 per cent of the US search engine market. Its first-quarter results are released tomorrow.
Shares in Yahoo rose on the Nasdaq stock exchange after it announced its results at 17:00 local time (20:00 BST) yesterday, closing for the day up 1.52 per cent.
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