Updated from 4:40 p.m. EST to provide comments from the conference call.
NEW YORK ( TheStreet) -- Yahoo! (YHOO) shares rose in extended trading after the company posted better-than-expected first-quarter results.
Yahoo! reported earnings of 23 cents per share on $1.08 billion in revenue. Analysts polled by Thomson Reuters were expecting earnings of 17 cents per share on $1.06 billion in revenue.
Regarding the company's recent layoffs, Chief Financial Officer Tim Morse said on the company's conference call he expects it will take approximately a year to realize the cost savings. Yahoo! recently laid off 2,000 workers in an effort to reorganize the business.
|Yahoo! posted strong first-quarter results|
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