Yahoo Profit Is a Footnote to Alibaba’s Huge Gains - NYTimes.com

Excerpt from a Yahoo reality check

"Yahoo, which was reporting its first-quarter results, said that revenue and profit growth were flat, a slight improvement from previous quarters. However, from the perspective of investors, those figures were basically a footnote to the Internet portal’s investments in Alibaba and Yahoo Japan.

“You can be a relative optimist like me about the core business and attribute $7 or $8 to it,” said Brian Wieser, an analyst with Pivotal Research. “But you can make an argument that the entirety of the value is Alibaba.”"

Yahoo Profit Is a Footnote to Alibaba’s Huge Gains - NYTimes.com