Yahoo! Reports Better Than Expected Third Quarter Earnings

Yahoo! (YHOO) shares are in focus after reporting better-than-expected third quarter earnings. The technology giant posted adjusted profit of $0.20 a share, beating estimates of $0.14. Revenue increased by 7% year over year to $1.31 billion, matching analysts' forecasts. The company did not hold an earnings call as its sale to Verizon Communications (VZ) - Get Report for $4.8 billion is pending. Verizon aims to capitalize on Yahoo!'s digital assets in an effort to create an advertising platform to rival Facebook and Alphabet's Google. TheStreet's Scott Gamm reports from Wall Street.