Yahoo's profit, revenue miss Street forecasts as costs rise

Investors have been urging Mayer to cash in the stake, after Yahoo announced plans to spin off its position in Chinese internet retailer Alibaba Group Holding. The moves follow unsuccessful efforts by Mayer to revive meaningful revenue growth with a string of acquisitions and product revamps. For the first quarter, Yahoo said display advertising revenue rose 2.3 percent to $463.7 million, accounting for roughly 40 percent of its total revenue. Search business revenue was up 19.5 percent year-on-year to $531.7 million.

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