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Yahoo earnings could provide leverage
USA TODAY, April, 2008 by Jon Swartz
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SAN FRANCISCO -- Yahoo, facing a looming deadline from Microsoft and its $43.2 billion hostile takeover bid, on Tuesday said first-quarter earnings more than tripled.
The results should embolden Yahoo in its resolve for a sweetened bid from Microsoft or fend off the takeover entirely, financial analysts say. But Microsoft is holding firm on its offer, CEO Steve Ballmer insisted.
"We think we can accelerate our strategy by buying Yahoo and will pay what makes sense for our shareholders," Ballmer said earlier Tuesday. "I wish Yahoo all the success with its results but it doesn't affect the value of Yahoo to Microsoft."
Ballmer has set a Saturday deadline for Yahoo's board to accept the bid or face a proxy contest by Microsoft to oust Yahoo's 10-member board.
The Internet media company earned $542 million, or 37 cents a share, during the quarter, compared with $142 ...
