Yahoo Inc. (NASDAQ:YHOO)’s stock trading up


Dallas, Texas 07/18/2013 (Financialstrend) – Yahoo Inc. turn in the earning confessional recently was mixed. While the internet giant’s revenue viewpoint fell just short of analyst’s predictions, the firm posted second-quarter earnings of $331.2 million, or 35 cents per share, compared to 30 cents in the previous year, 5 cents better than the consensus view. Meanwhile, revenue came in roughly in line at $1.07 billion. In pre-market trading, the shares are 2% up approximately as per the report.

Yahoo Inc. shares rushed 8 percent to a new five-year high of $28.91 following the firm’s second-quarter earnings report as well as blowout earning reported by Chinese e-commerce firm, Alibaba, in which Yahoo holds a sizable investment. The firm owns a 24 percent stake of Alibaba Group, nearly tripled its net profit in the first 3 months of the year and increased its revenue by 71%

Yahoo Inc. (NASDAQ:YHOO) is a digital media company which delivers digital content and experiences, across devices and globally through its various technology and insights. The firm also delivers online properties and services to consumers, as well as a range of marketing services designed to reach and connect with those users on Yahoo and through a distribution network of vendor entities.

There had been a gain of 10.34% in the shares of Yahoo Inc. (NASDAQ:YHOO) which closed at $29.66 per share on Thursday. The stock had presented intraday fluctuations on the range of $27.52 to $29.73 per share, after opening at $27.66 for the day. The company had recorded 52 week low at $14.59 and 52 week high at $29.73 per share.

There are 1.08billion shares outstanding with a market cap of $32.17 billion and an institutional ownership of 77% of the total capital. The trading volume on Thursday was 83.79 million shares and the average volume is at 15.04 million shares per day.