Internet company Yahoo! Corp Tuesday got a boost in the arm in its deal negotiations with Microsoft, reporting a tripling in earnings in the first quarter over the same period last year, to 542 million dollars. ( dpa )
Revenues climbed 9 per cent to 1.82 billion dollars, Yahoo! said after markets closed, in a report from its headquarters in Sunnyvale, California.
The figures exceeded analysts' expectations, and share prices climbed 1 per cent to 28.80 dollars - a trump card in valuation of the company in the bargaining with Microsoft.
Microsoft offered to buy Yahoo! for 45 billion dollars, to fend off the rising dominance of Google in online searches and Internet advertising. Yahoo! has rejected the offer as too low.
An ultimatum from Microsoft for a response from Yahoo! runs out this weekend.
If no deal is reached by then, Microsft is planning a hostile takeover to beat down Yahoo! management's resistance.