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Yahoo! (YHOO) earned $0.30 per share (excluding non-recurring items) in the fourth quarter, beating analysts' estimate of $0.29. Revenue in the fourth quarter decreased 1.7% year-over-year to $1.18 billion, in line with analysts' estimate.
The company announces plan to spin off about a 15% Alibaba Group (BABA) stake. The spinoff is expected to complete by the end of 2015.
Yahoo! (YHOO) shares rose to $50.45 (+5.13%) prior to the opening bell.
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