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Yahoo! Q3 profit boosted by Alibaba gains
2014-10-22 08:50:00| Telecompaper Headlines
(Telecompaper) Yahoo! reported third-quarter sales up 1 percent to USD 1.148 billion. Excluding traffic acquisition costs, revenue also rose 1 percent, to USD 1.094 billion. The internet company posted a 5 percent fall in display ad revenues to USD 477 million, while search revenues increased 4 percent from a year ago to USD 452 million. CEO Marissa Mayer said the growth came in part due to investments in mobile services, which contributed over USD 200 million in revenue in the quarter. She said the company was on track to generate USD 1.2 billion in gross revenue from mobile this year. Yahoo's operating profit was still down 55 percent year-on-year to USD 42 million, and adjusted EBITDA fell 8 percent to USD 306 million. Net profit jumped to USD 6.8 billion or USD 6.70 per share, thanks to a one-time gain of USD 6.3 billion from selling shares in Alibaba's IPO. This helped the company finished the quarter with USD 12 billion cash, up from USD 5 billion at the start of the year. Yahoo said it will pay USD 3.3 billion in tax in Q1 2015 on the profit from the sale of Alibaba shares. It also spent USD 1.1 billion in October to buy back 15 million of its shares from a financial institution.
Tags: yahoo
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alibaba
Yahoo profits surge on Alibaba sale
2014-10-21 22:43:40| BBC News | Business | UK Edition
Technology giant Yahoo reports profits of $6.8bn for the third-quarter, buoyed mostly by earnings from the firm's stake in Chinese firm Alibaba.
Tags: sale
yahoo
profits
alibaba
Costco makes China debut through deal with Alibaba
2014-10-16 15:06:17| Daily apparel & textile news and comment - from just-style.com
US warehouse retailer Costco is making its first move into China by opening an online store on Alibaba Group's Tmall global website.
Costco enters China with Alibaba
2014-10-15 10:07:17| BBC News | Business | UK Edition
US warehouse retailer Costco is opening an online store in China through e-commerce giant Alibaba's Tmall website.
Tags: china
alibaba
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costco
Yahoo Downgraded, Continues Slide Following Alibaba IPO
2014-09-22 21:39:47| Paper - Topix.net
BACKGROUND: On September 19, Alibaba opened for trade on the NYSE at $92.70 after the company's 320.1M shares were originally priced at $68. Alibaba closed Friday at $93.89 per share, giving it a market value of over $230B.
Tags: yahoo
continues
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alibaba
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