I can't find any links ("Yahoo finance 2013" is exceedingly useless) but wasn't that $600M partially/mostly from them selling off stakes in things like AliBaba and not from the core business?
No. None of that $590 million came from the sale of Alibaba shares, as the Alibaba sale took place in 2012, not in 2013.
In addition, $590 million is not Yahoo's net income, but their pretax income from operations. In other words, excluding Alibaba.
Here's the breakdown for 2013, in thousands:
Income from operations 589,926
Other income, net 43,357
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Provision for income taxes (153,392)
Earnings in equity interests 896,675
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Net income 1,376,566
Comments
I can't find any links ("Yahoo finance 2013" is exceedingly useless) but wasn't that $600M partially/mostly from them selling off stakes in things like AliBaba and not from the core business?
No. None of that $590 million came from the sale of Alibaba shares, as the Alibaba sale took place in 2012, not in 2013.
In addition, $590 million is not Yahoo's net income, but their pretax income from operations. In other words, excluding Alibaba.
Here's the breakdown for 2013, in thousands:
"Earnings in equity interests" is Alibaba.See 10-K at Yahoo's investor relations site: http://investor.yahoo.net/sec.cfm
It appears that $80M of that $590M came from a one-off patent sale - which was the kind of thing I was talking about.
That's a ~14% (artificial) boost in profit that takes them from "$65M down on 2012" (bad) to "$23M up on 2012" (adequate).