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Web sites with a special design for sept. 11 - Yahoo

Yahoo Inc. posted quarterly earnings that topped Wall Street targets, and its shares rose more than 3 per cent.

Yahoo said it earned $223-million (U.S.) in net income, or 17 cents a share, in the three months ended March 31 compared with $310-million, or 22 cents a share, in the year-ago period.

Excluding charges related to an investment in Japan, Yahoo earned 19 cents per share, comfortably topping the 16 cent average of analysts polled by Thomson Reuters I/B/E/S.

Net revenue, which excludes fees paid to partner websites, was roughly $1.064-billion, squeaking past the $1.055-billion average of analyst expectations.

Looking forward, Yahoo projected net revenue between $1.08-billion and $1.13-billion in the second quarter. Analysts were looking for $1.1-billion.

Yahoo is one of the most popular destinations on the Web and the No. 1 provider of online display ads in the United States, but the company is facing increasing competition from social networking service Facebook and continuing pressure from search leader Google Inc .

Shares rose to $16.66 following the earnings report, after ending at $16.12 in Nasdaq's regular session.

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