Yahoo’s profits more than doubled in the last three months, a boost for the beleaguered firm whose plan to sell its core business was thrown into doubt.<\/p>\n
Verizon Communications agreed to buy Yahoo for $4.8bn (\u00a34bn), but disclosure of a huge data breach put a question mark over the deal.<\/p>\n
In the quarter to 30 September, Yahoo’s profits rose to $163m, from $76.3m last year, on revenue up 6.5% to $1.3bn.<\/p>\n
Chief executive Marissa Mayer said the figures underlined Yahoo’s value.<\/p>\n
“We remain very confident, not only in the value of our business, but also in the value Yahoo products bring to our users’ lives,” she said in a statement.<\/p>\n
Revenues from mobile operations during the quarter reached $396m, up from $271m the previous year.<\/p>\n
“We launched several new products and showed solid financial performance across the board,” Ms Mayer said.<\/p>\n
The results, the first financial update since Yahoo and Verizon announced their deal, beat most analysts’ forecasts.<\/p>\n
Yahoo’s shares rose 1.3% in after-market trading on Wall Street, which analysts said reflected confidence that the data breach had not sparked a mass exodus of users of the firm’s email system.<\/p>\n
Yahoo disclosed last month that a hack affected about 500 million user accounts. Verizon said subsequently that the news could have a “material impact” on its plan to buy the company.<\/p>\n
Ms Mayer said on Tuesday: “We’re working hard to retain [users’] trust and are heartened by their continued loyalty as seen in our user engagement trends.”<\/p>\n
–<\/p>\n
Source: BBC<\/p>\n","protected":false},"excerpt":{"rendered":"
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