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November 23, 2008 2:34:38 CST

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In Q1, Yahoo Beats Estimates

Posted Apr 22, 08 4:09 PM CDT in Technology,  Business 

(Newser) – Yahoo posted an increase in net income and reported sales that beat estimates in the first quarter, the company reported today. The jump in profit to $542.2 million translates to 37 cents per share, up from 10 cents a share a year ago—a number reflecting a onetime $401 million gain related to the Alibaba deal, the San Jose Mercury News reports.

Adjusted for the deal, net income was 11 cents per share, still 2 cents more than forecast. Yahoo hopes beating expectations will encourage Microsoft to sweeten its buyout offer, but it may not: “They needed to show fabulous results and these are good results,” an analyst told Bloomberg. “I don't know if they prove to investors that they can go it alone.''

Sources San Jose Mercury News, Bloomberg

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A Times Square news ticker flashes a headline about Microsoft above a billboard for Yahoo! in New York in this Friday, May 4, 2007 file photo. A reader-submitted question about Microsoft and Yahoo is...   (AP Photo/Mark Lennihan, file)
A sign in front of the Yahoo offices in Santa Clara, Calif. is seen Monday, April 21, 2008. Yahoo, Inc. released quarterly earnings after the closing bell today.   (AP Photo/Paul Sakuma)
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