Yahoo's first-quarter net income increased dramatically, but most of the gain was from a noncash gain from the search engine's stake in Chinese Web site Alibaba.
The company reported net income of $542 million for the quarter, compared with $142 million for the same period a year ago. Excluding $401 million related to the initial public offering of Alibaba.com, the business-to-business division of Alibaba, net income slid $1 million.
However, excluding that and other factors, the company reported earnings per share of 11 cents, 2 cents above what analysts surveyed by Thomson Financial expected on average.
Excluding … Read more