Alibaba stock sale lifts Yahoo profit

GMT 21:39 2014 Tuesday ,21 October

Arab Today, arab today Alibaba stock sale lifts Yahoo profit

San Francisco - AFP

Yahoo said Tuesday its quarterly profit surged to $6.8 billion, boosted by the sale of a portion of its shares in Chinese Internet powerhouse Alibaba.
Revenue from operations inched up a percent to $1.15 billion. according to third quarter results welcomed by chief executive Marissa Mayer, who is under pressure to show the company can flourish apart from its lucrative investment in Alibaba.


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