Yahoo Gives Excellent Quarterly Result

Yahoo Inc posted a better-than-expected quarterly profit but failed to do well enough to convince many on Wall Street that Microsoft Corp needs to raise its takeover bid of $43 billion. Yahoo's first-quarter net income rose to $542.2 million, or 37 cents per diluted share, from the year-ago quarter's $142.4 million, or 10 cents per diluted share. Excluding one-time items and stock compensation costs, the beleaguered Internet company reported a profit of $150 million, or 11 cents per share. On that basis, Wall Street on average was looking for a profit of 9 cents per share.