Yahoo Earnings Surge On Gain From Alibaba Stake Sale

Yahoo Inc. on Tuesday reported a third-quarter profit of $6.8 billion, or $6.70 a share, on revenue excluding traffic-acquisition costs of $1.09 billion. The results included a gain from the sale of Alibaba Group shares in Alibaba's IPO. During the same period a year ago, Yahoo earned $297 million, or 28 cents a share,on $1.08 billion in revenue. Excluding one-time items, Yahoo earned 52 cents a share. Analysts surveyed by FactSet had forecast Yahoo to earn 32 cents a share on sales of $1.05 billion. Yahoo shares rose 3.4%.