Yahoo Q1 Revenue Flat
April 15, 2014 at 5:05 PM (PT)
YAHOO reported flat revenue and profits for Q1 2014 with net income dropping from $390 in Q1 2013 to $312 million in Q1 2014. Yet the NEW YORK TIMES reports that WALL STREET remains quite bullish on YAHOO because it's about to cash in on its investment in ALIBABA, CHINA’s leading e-commerce company.
YAHOO owns a 24% stake in ALIBABA and a 35% stake in YAHOO JAPAN. ALIBABA is expected to file paperwork as early as next week to sell stock in an IPO, which should take place later in the year. YAHOO is expected to sell about 40% of its stake in the company, which could reap at least $10 billion before taxes.