Internet giant Yahoo posted a net profit yesterday, ending the company's run of six loss-making quarters.
A net profit of $21.4m in the second quarter compares with a loss of $48.5m in the corresponding quarter of 2001.
The company, which posted a revenue rise of 24 per cent to $225.8m from $182.2m for the same quarter in 2001, said that it had seen an uptake of its pay services, such as personals, advertising and advanced email.
Revenues from pay services doubled from the year before to $71.4m in the second quarter.
Yahoo now boasts over one million paying customers, and said that it is happy to see the dotcom collapse behind it.
"Clearly this is a dramatic improvement and proof that we are executing well," said chief executive Terry Semel. "We achieved double-digit top-line growth in what I think we would all agree is a tough economic environment."
Analysts welcomed the news but warned that Yahoo's recovery would take some time.
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