The company beats analysts' estimates.



NEW YORK (TheStreet) -- Yahoo!(:YHOO) shares rose in extended-hours 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 $1.059 billion in revenue. Yahoo! posted strong first-quarter results

The company also gave stronger-than-expected second-quarter revenue guidance. It said it expects revenue excluding traffic acquisition costs (TAC) to be $1.03 billion and $1.14 billion. Analysts polled by Thomson Reuters expect $1.08 billion in revenue. Analysts estimates typically exclude TACs.

"In the first quarter, Yahoo!'s results came in at the high end of our guidance range and beat consensus on revenue and profits," said CEO Scott Thompson in the press release. Thompson went on to say: "We also made changes to resize the organization and establish a new leadership structure to quickly deliver the best user and advertiser experiences at scale."

The Sunnyvale, Calif.-based Internet company company ended the first quarter with $2.65 billion in cash, cash equivalents, and investments in marketable debt securities

Yahoo! also said it bought back 5 million shares during the quarter.

Shares of Yahoo! ended the regular session higher, up 1.5% to $15.01. Shares are moving in after-hours trading, gaining 1.8% to $15.28, according to Nasdaq.com.

Yahoo! will hold a conference call at 5 p.m. to discuss the results.

Interested in more on Yahoo!? See TheStreet Ratings' report card for this stock.

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--Written by Chris Ciaccia in New York

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