The online portal giant, Yahoo, received surprise profits of US$237m, up 11pc from US$213m last year, despite revenues declining 5pc year-on-year to US$1.08bn. The company attributed the drop in revenues to its revenue share search deal with Microsoft.

Earnings from operations elevated 9pc to US$191m during the second quarter of 2011, in comparison to US$175m in the second quarter of last year.

Yahoo said it continued to update its technology platforms, with 33 additional sites across the Americas, EMEA and even Asia Pacific going live on the new international content platform in the quarter, bringing the total to 67. Yahoo News in the United States went live in the quarter, the largest website to migrate to date.

Yahoo continued to break its web traffic records with news events, such as the Royal Wedding in April marking the largest one-day event with over 400m page views. Yahoo operated the internet’s No. 1 Royal Wedding site.