Yahoo! may have failed to impress Wall Street in the first quarter of 2013, but it has managed to massively increase its number of mobile users.

During an announcement about its first quarter performance, Yahoo! revealed that it now had 300m monthly mobile users. This is a 50% increase on its 2012 mobile users; in the final quarter of 2012 it counted a total of 200m monthly mobile users.

Yahoo!’s chief executive, Marissa Mayer, believes that mobile usage is growing from the occasional personal user to an industry-wide change to how the internet is accessed. Mayer feels strongly that this change is creating opportunities that Yahoo! needs to capitalise on and insists the company is striving to maximise the potential.

The increased number of mobile users has arrived at a time when Yahoo! is busy acquiring technology firms and spending capital on strategic plans to improve its mobile platform. The expenditure is part of the company’s plans to create cutting edge technologies and development teams in mobile channels.

Despite the plans and expenditure, Yahoo! failed to hit its fiscal targets for the first quarter of 2013. Furthermore, there was a decline in sales for its display advertising department.

Whilst its first quarter performance may not have been as buoyant as Yahoo! had hoped, Mayer remains confident for the future. She was happy with the first quarter results and believes its team is stronger and the business more stable. She further explained that there was confidence about developments made by Yahoo! and expected growth in the longer term.