Yahoo’s first-quarter income jumps 22 percent

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Yahoo Inc (YHOO.O) reported a 22.1 percent boost in quarterly income on Tuesday, forward of a sale of a core internet business to Verizon Communications Inc (VZ.N).

Yahoo pronounced income from Mavens – a mobile, video, local and amicable promotion units that it has touted as pivotal rising businesses – rose 35.6 percent to $529 million in a initial entertain finished Mar 31.

Net income attributable to Yahoo was $99.4 million, or 10 cents per share in a quarter, compared with a net detriment of $99.2 million, or 10 cents per share, a year earlier.

Revenue rose to $1.33 billion from $1.09 billion.

Verizon in Feb concluded to buy Yahoo’s core business —which includes a internet hunt and email resources — for $4.48 billion, obscure a strange offer by $350 million, in a arise of dual large cyber attacks during a internet company.

Yahoo pronounced on Tuesday it expects a understanding to tighten in June.

(Reporting by Laharee Chatterjee in Bengaluru; Editing by Sai Sachin Ravikumar)

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