Los Angeles - Yahoo reported net income of $6.8-billion for the third quarter, up from $297-million in the third quarter of 2013, the California-based company said on Tuesday.
The profit includes a $6.3-billion gain from Yahoo's sale of a stake in the Alibaba Group, as part of the Chinese company's initial public offering in September.
Revenue increased by 1 percent to $1.148-billion for the quarter, up from $1.139-billion a year earlier.
“We achieved this revenue growth through strong growth in our new areas of investment - mobile, social, native and video - despite industry headwinds in some of our large, legacy businesses,” Yahoo chief executive Marissa Mayer said.
Yahoo reported that mobile revenue was more than $200-million in the third quarter. The company said it expected mobile revenues for the full year to exceed $1.2-billion.
Yahoo shares rose as much as 4 percent in extended trading. - Sapa-dpa