The shares of Yahoo! jumped in after-hours trading as the company announced a third-quarter profit of 11 cents per share, besting the consensus analyst estimate by 3 cents. However, third-quarter net income slipped 5% lower from the year-ago period, dropping to $151.3 million from $158.5 million. Revenue for the period climbed to $1.77 billion from $1.58 billion, while net sales edged up to $1.28 billion from $1.12 billion in the year-ago quarter. Analysts were targeting a net sales total of $1.24 billion.
This was a closely watched quarter for Yahoo, as it was the first under the aegis of new CEO Jerry Yang. The after-hours surge may help YHOO reclaim a position atop its 10-day and 20-day moving averages. These short-term trendlines have lifted the stock since early September, but YHOO slipped below them in today's session.