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Wednesday, 22 October 2014 - 12:39
Yahoo profit surges on Alibaba divestment, mobile
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Yahoo said its quarterly profit surged with its sale of shares in Chinese Internet powerhouse Alibaba, and that it was seeing signs of life in its mobile Internet initiatives.

Net profit jumped to 6.8 billion dollars, which included 6.3 billion dollars from its Alibaba shares.

But profit was stronger than expected, and pumped up Yahoo shares by 3.1 per cent in after-hours trade.

 
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