Yahoo, IBM and Intel beat Street

City A.M. Reporter
YAHOO last night reported a modest uptick in first-quarter revenue, its first growth in three years, while Intel and IBM also beat forecasts.

Yahoo also said its net income was $286m in the first quarter, up 28 per cent on a year ago, in new chief Scott Thompson’s maiden results.

While IBM’s sales missed Wall Street’s expectations, a seven per cent rise in net income to $3.07bn was above forecasts and prompted the firm to raise its outlook for the year.

And chipmaker Intel forecast revenues of $13.6bn for the current quarter, above expectations, though its shares fell as investors had expected more.