Despite revenue dipping 24 percent and profits sinking 26 percent, Yahoo's third quarter results weren't as bad as Wall Street expected. The company's stock enjoyed a 3 percent boost in after hours trading following the news, and though it would be a stretch to call it good news, it certainly could've been much worse. Financial figures aside, it's worth remembering that Yahoo's had an especially tumultuous quarter with the board firing CEO Carol Bartz, Bartz publicly complaining about how "these people fucked me over" and a month-long back-and-forth over whether or not the company was being sold. However, since a leaked memo revealed the board was talking to potential buyers after, things have been looking up. Just this week, reports emerged that Alibaba CEO Jack Ma confirmed that his company had the money to buy Yahoo, a signal that a bidding war could be on the horizon.
This article is from the archive of our partner The Wire.
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