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Yahoo Climbs as Profit Beats Estimates on Internet-Ad Demand
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Yahoo! Inc., the Web portal that is exploring strategic options, rose after demand for advertising helped third-quarter profit exceed analysts’ estimates.
Profit before some costs was 21 cents a share, the company said in a statement yesterday. That beat the 17-cent average projection of analysts, according to data compiled by Bloomberg. Sales, excluding revenue passed on to partner sites, fell 4.6 percent to $1.07 billion, matching the average estimate.