Yahoo’s (YHOO) third-quarter earnings soared as the Internet company collected a huge windfall from Alibaba’s recent IPO. Revenue also rose slightly from the previous year, a welcome change for a company that has been posting quarterly declines for most of the past five years.
Alibaba’s stock is surging as the Chinese e-commerce powerhouse’s begins its first day trading as a public company.
The Chinese e-commerce powerhouse is expected to start trading Friday on the NYSE in an IPO that values it at $167.62 billion, bigger than the current market value of Amazon, Cisco, and eBay.
Alibaba Group, China’s leading e-commerce company, is dangling a deal that could turn into one of the biggest IPOs in U.S. history.
Yahoo is still prospering from its lucrative investments in Asia while the Internet company’s listless advertising sales are picking up, if ever so slightly, under CEO Marissa Mayer.
Yahoo is getting another lift from its stake China’s Alibaba Group, a thriving Internet company that has helped mask Yahoo’s own financial funk. Investors latched on to Yahoo Monday in anticipation of a huge windfall from Alibaba’s initial public offering of stock later this year
CEO Melissa Mayer’s magnetism and Alibaba’s prosperity are now combining to transform Yahoo Inc. from a tale of woe into a comeback story that is winning over Silicon Valley and Wall Street.
Yahoo has closed a $7.6 billion deal that includes selling half its stake in rapidly growing Chinese company Alibaba Group.
Struggling Internet company Yahoo Inc. has secured a lifeline after agreeing to sell half of its prized stake in Chinese e-commerce group Alibaba for about $7.1 billion, with most of the cash going to shareholders.
The two companies have been in talks for more than a year.