Skip to main content
Publish date:

Yahoo Shares Take Off After Blowing Past Earnings Forecasts

After blowing past analyst estimates with its third quarter earnings, Yahoo (YHOO) surged on Wednesday then ended lower, making it TheStreet's Move of the Day.

After blowing past analyst estimates with its third quarter earnings, Yahoo (YHOO) surged on Wednesday then ended lower, making it TheStreet's Move of the Day. The Internet company posted a profit much higher than the consensus estimates. Revenue totaled roughly $1 billion dollars, also topping analysts' expectations. Yahoo said its online advertising business continued to struggle, even with the growth in mobile advertising, but the company said it got a $6.3 billion dollar boost from the sale of Alibaba shares. TheStreet's Jim Cramer says because it's an in-transition company, investors can't make a judgment right now. Cramer added that he thinks the company's capital position could help push the stock to $60.

TheStreet Recommends