22 April 2008
Whilst Yahoo have been fending off a takeover bid from software giant Microsoft it has now announced that its profits have tripled in the first three months of 2008.
The internet firm reported its income has risen from $142.4m last year to $542.2m (£271.5m) compared with the same period this year.
Yahoo is seeking to prove it is worth more than Microsoft's unsolicited $44.6bn (£22.3bn) offer.
Yahoo's profits were helped by a $401m gain from the sale of a stake in Chinese internet company Alibaba.com.
Yahoo chief executive and co-founder, Jerry Yang, said the firm remained opened to forging a deal with Microsoft but it is also continuing to explore other options.
"Our board and management team continue to be open to any and all alternatives, including a Microsoft deal," Mr Yang said.
Earlier Microsoft chief executive Steve Ballmer said the company will hold firm on its offer for Yahoo regardless of whether Yahoo's quarterly results impress or disappoint investors.
Microsoft has warned if its deal is not accepted by 26 April, it would mount a hostile takeover at a lower price.
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