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.''