Yahoo Inc. shares were volatile in Tuesday's extended trade after the web portal company reported quarterly results that missed Wall Street's expectations. Yahoo said its third-quarter earnings fell to $76 million, or 8 cents a share, from $6.77 billion, or $6.70 a share, a year ago. On an adjusted basis, the company would have earned 15 cents a share, falling short of 16 cents a share forecast by analysts in a FactSet survey. Year-earlier results were inflated by Alibaba Group Holding Ltd.'s initial public offering. Revenue grew to $1.23 billion from $1.15 billion with mobile revenue accounting for 24% of traffic-driven revenue in the quarter. Yahoo also announced a search agreement with Google that would complement its existing deal with Microsoft Corp. . Meanwhile, Chief Executive Marissa Mayer said the spinoff of Aabaco Holdings is a top priority. "This is an important moment for the company, and we continue to strive to complete the spin as quickly as we can," she said in a statement. Yahoo shares fell 1.3% in after-hours trading.
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