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Yahoo’s net income climbs to $162.8 Mil, revenue rises 6.5%

Yahoo’s net income climbs to $162.8 Mil, revenue rises 6.5%

Yahoo Inc reported a 6.5 % hike in quarterly revenue on Tuesday, positive news for the beleaguered company whose deal to sell its key business to Verizon Communications Inc has been shaken by a massive data break. Last week Verizon`s general counsel said that the hack, which affected at least 500 million email accounts in 2014, could have a material crash, possibly allowing Verizon to withdraw from the $4.83 billion deal. Yahoo`s revenue rose to $1.31 billion in the third quarter ended September 30 from $1.23 billion a year advance. After deducting fees paid to partner websites, revenue cut down to $857.7 million from $1 billion. Net income traceable to Yahoo rose to $162.8 million, or 17 cents per share, from $76.3 million, or 8 cents per share, a year earlier. On Friday Yahoo said it would not hold a call or webcast after the rescue of the results, citing the Verizon...
Yahoo Trims 15% of Workforce

Yahoo Trims 15% of Workforce

Yahoo Inc declared on yesterday it will lay off 107 employees in the first of what is expected to be more than 1,500 job cuts. The layoffs take effect from April 11 and affected employees get 60-day advance notice of the move, Yahoo told in a notice filed with the California Employment Development Department. The layoffs were spread across a range of departments and job titles. Yahoo shares ended-up 1 percent at USD27.10 on yesterday and are down around 18.5 per-cent so far current year. Yahoo Chief Executive Officer Marissa Mayer told at the time of the company’s 4rth Q(quarter) earnings call current month it will cut roughly 15 per-cent of its workforce as part of a strategy to revamp its core Internet...
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