Yahoo’s stock rises following Q1 sales gains from ads, Alibaba growth

Washington, Apr. 16: Yahoo has reported a stronger-than-expected first-quarter profit.

Yahoo’s shares rose in after-hours trading after the web giant reported its first sales gains in more than a year.

According to deadline.com, the company made profits from sales in four key investment businesses: mobile, video, native and social, with 98 percent ad growth year over year.

CEO Marissa Mayer said mobile was the most important of those pillars.

Yahoo Inc. is making most of its money from its holdings in two Asian Internet companies – China’s Alibaba Group and Yahoo Japan.

Earlier, Yahoo shares bumped up in after-hours trading after the Web giant reported its first sales gains in more than a year.

The news comes as the company reported revenue of 1.09 billion dollars during the quarter, better than the 1.08 billion dollars analysts expected and up from 1.07 billion dollars a year ago.

Alibaba, meanwhile, remained a hot topic after the Chinese e-commerce company reported 66 percent sales growth.(ANI)