Yahoo CEO Building for Growth as Alibaba Help Set to Fade
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Yahoo! Inc.’s Marissa Mayer can’t rely on Alibaba Group Holding Ltd. to bail her out much longer, putting the onus on her to accelerate a sales rebound that’s only getting started.
Alibaba yesterday posted a 66 percent sales surge and more than doubled its net income for the last quarter of 2013, showing a reacceleration of growth ahead of a potential U.S. initial public offering. The results helped send shares of Yahoo, which owns about 24 percent of the Chinese e-commerce company, soaring as the Web portal also reported its first sales growth in more than a year.