Yahoo Inc., owner of the second most popular U.S. search engine, said Chief Executive Officer Carol Bartz received compensation valued at $47.2 million last year as she began efforts to turn around the company.
Yahoo! Inc. , the most-visited U.S. Web portal, reported first-quarter sales that topped estimates as companies stepped up their use of Internet advertising. The shares rose as much as 5.5 percent in late trading.
Yahoo! Inc. has cost its shareholders so much money that a buyer would now be able take over the most- visited U.S. Web portal for less than the value of its stakes in Alibaba Group Holding Ltd. and Yahoo Japan Corp.
Yahoo! Inc. shares jumped after Third Point LLC bought a 5.2 percent stake and urged the board to resign, saying directors erred in spurning takeover bids and hired a chief executive officer who wasn’t up to the job.