Yahoo's Stock Surges As It Is Making Over $3 Billion On Its Alibaba Stake

Yahoo Inc.'s stock surged 7.3% in premarket trade Thursday, as the big jump in the shares of Chinese e-commerce giant Alibaba Group Holding is boosting Yahoo's coffers by about $3.1 billion. In comparison, the Yahoo recorded combined revenue of $3.2 billion over the past three quarters. Alibaba's stock soared $8.09, or 10%, in premarket trade, after the company reported better-than-expected first-quarter results. Yahoo owns 383,565,416 shares, or 15.4% of Alibaba's outstanding shares, according to the latest regulatory filings. Yahoo said in January that it will spin off its Alibaba stake, but that's not expected to be completed until the fourth quarter of 2015.