Image: Yahoo Image: Yahoo

Yahoo has reported a $99 million (£69m) loss for the first three months of the year as it prepares sell-off for its core internet business.

It compares with a $21m profit in the same quarter last year, with revenues falling 11.6% to $1.08 billion. However, the slide in revenues was not as bad as market analysts had feared.

But a loss in the first quarter, following a $4.3bn loss for the whole of 2015 addes even more pressure to the shoulders of chief executive Marissa Mayer, who earlier this year also announced plans to cut 15% of the company's workforce.

Parties interested in purchasing Yahoo's internet business had to express interest by Monday. According to the Wall Street Journal, the owner of the Daily Mail was one of those interested. Yahoo is now considering potential bids.

Despite the fall in revenues and falling back into a loss, Marissa Mayer said: "Our 2016 plan is off to a solid start as we continue to focus on driving efficiency, lowering costs, and improving long-term growth.

"In tandem, we made substantial progress towards potential strategic alternatives for Yahoo."

Investors were not put off by the drop in financial figures, with the company's share price rising 1%.