Share

Yahoo profits boosted by sale of Alibaba shares

Los Angeles - Yahoo reported net income of $6.8bn for the third quarter, up from $297m in the third quarter of 2013, the California-based company said on Tuesday.

The profit includes a $6.3bn gain from Yahoo's sale of a stake in the Alibaba Group, as part of the Chinese company's initial public offering in September.

Revenue increased by 1% to $1.148bn for the quarter, up from $1.139bn a year earlier.

"We achieved this revenue growth through strong growth in our new areas of investment - mobile, social, native and video - despite industry headwinds in some of our large, legacy businesses," Yahoo chief executive Marissa Mayer said.

Yahoo reported that mobile revenue was more than $200m in the third quarter. The company said it expected mobile revenues for the full year to exceed $1.2bn.

Yahoo shares rose as much as 4% in extended trading.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.89
+0.3%
Rand - Pound
23.87
+0.1%
Rand - Euro
20.38
+0.2%
Rand - Aus dollar
12.32
+0.1%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders