Yahoo's investment in Chinese e-commerce firm Alibaba Group Holding Ltd was sufficient to keep Wall Street happy despite the continued struggle in the third quarter for advertising revenues,
The shares of Yahoo increased by 1% to USD33.70 in Tuesday trading after hours as investors searched beyond the current pricing pressure and lower than expectations revenue outlook to keep focus onyje investment in Alibaba.
Yahoo owns 24% of Alibaba.Yahoo had decided to sell a fewer number of shares than originally ageed upon when the Chinese e commrce giant goes public. This according to analysts would result in more gains for Yahoo should the stock surge after its IPO.
According to Yahoo CEO Marissa Meyer, "We are in this to win and win big." She referred to users of Yahoo mobile products increased by 15% from the previous quarter for a total of 390 million users as well as improvements in the sports and entertainment websites.
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