Yahoo just announced its earnings and stock is soaring, because of its stake in Alibaba, the giant Chinese e-commerce company that will file for an IPO in the U.S. this year.
Yahoo, which owns a 24% stake in Alibaba, saw its earnings in equity interest rise to $US301 million, a 39% increase.
For Alibaba, revenue was up an amazing 66% in Q1, reaching $US3.06 billion. Its net income was up 110% to $US1.36 billion.
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