Yahoo Q1 Earnings Beat Estimates, Stock Jumps 11%

Yahoo barely beat Wall Street estimates for its first quarter earnings report, but the stock shot up following more positive news about one of the company's secret weapons: Alibaba

The Internet giant posted earnings of $0.38 per share on revenue of $1.09 billion in the first quarter, just beating Wall Street estimates for earnings of $0.37 a share on revenue of $1.08 billion. Yahoo's results were essentially flat compared to the same quarter last year when it reported earnings of $0.38 per share on revenue of $1.07 billion.