Yahoo Beats Earnings Estimates in Q3, Stock Jumps 5%

Yahoo's stock shot up by as much as 5% in after hours trading after beating earnings estimates for the third quarter.

Yahoo reported earnings of $0.34 a share on revenue of $1.08 billion for the September quarter, just beating analysts estimates for revenue of $0.33 a share on revenue of $1.08 billion. The stock's increase appears to be driven more by an announcement in the report that Yahoo will be able to hold onto more shares of Alibaba, the Chinese ecommerce giant it has a significant stake in, after the company goes public in the coming months