Yahoo! Inc. (Nasdaq: YHOO) posted first-quarter revenue that topped estimates, signaling potential progress in Chief Executive Officer Marissa Mayer’s turnaround amid a process to sell the company’s core operations. Yahoo recently hired advisers to explore its options.

Revenue, excluding sales shared with partner websites, declined 18 percent to $859.4 million, the Sunnyvale, California-based company said Tuesday in a statement. That exceeded analysts’ average projection of $846.5 million, according to data compiled by Bloomberg.

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