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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 deal.

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