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Lifer
April 8 (Bloomberg) -- Shares of Yahoo! Inc., owner of the world's most-used group of Internet sites, rose 10 percent in Europe after the company reported a record first-quarter profit, raised its earnings forecast and said it will split its stock.
Yahoo shares traded at the equivalent of $53.24 at 9:08 a.m. in Frankfurt, a 10 percent gain from yesterday's close of $48.35 on the Nasdaq exchange. They had doubled over the past year through yesterday.
Yahoo said in statement yesterday that net income doubled to $101.2 million, or 14 cents a share, from $46.7 million, or 8 cents, a year earlier. Revenue at the Sunnyvale, California-based company more than doubled to a $757.8 million after Chief Executive Terry Semel, 61, purchased two search-engine companies and sold more advertising linked to the results of Web searches.
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Yahoo shares traded at the equivalent of $53.24 at 9:08 a.m. in Frankfurt, a 10 percent gain from yesterday's close of $48.35 on the Nasdaq exchange. They had doubled over the past year through yesterday.
Yahoo said in statement yesterday that net income doubled to $101.2 million, or 14 cents a share, from $46.7 million, or 8 cents, a year earlier. Revenue at the Sunnyvale, California-based company more than doubled to a $757.8 million after Chief Executive Terry Semel, 61, purchased two search-engine companies and sold more advertising linked to the results of Web searches.
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