Yahoo Beats on First-Quarter Earnings and General Motors Creates Global Product Integrity Group
Yahoo! Inc. (NASDAQ: YHOO) reported first-quarter earnings that surpassed Wall Street estimates. The company earned 38 cents a share on $1.087 billion in revenue, which excluded traffic acquisition costs (TAC) for the first quarter. Analysts surveyed by Thomson Reuters were looking for Yahoo! to earn 37 cents a share on $1.08 billion in revenue for the first quarter. Chinese internet company Alibaba Group Holding Ltd, in which it holds a 24 percent stake, also reported a surge in quarterly revenue. "We continue to recommend aggressive purchase of (Yahoo's) shares ahead of the Alibaba IPO," Topeka Capital Markets analyst Victor Anthony said in a note.
Yahoo! Inc. operates as a technology company worldwide. The company offers search products, including Yahoo Search that serves as a starting point to navigate the Internet and discover information; and Yahoo Answers, which enables users to seek, discover, and share knowledge and opinions across mobile phones, tablets, and desktop.
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General Motors Company (NYSE: GM) chief executive Mary Barra announced the creation of a global product integrity group. Barra said GM’s product development team will oversee the new product integrity organization and it will report directly to Mark Reuss, the head of global product development. This comes after the company faced heavy scrutiny for an ignition-switch defect that spurred a recall of 2.2 million vehicles in the U.S. Based on a timeline released by the company, GM employees were aware of a possible defect at least a decade earlier.
General Motors Company (GM) designs, manufactures, and markets cars, crossovers, trucks, and automobile parts worldwide. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, as well as under the Alpheon, Jiefang, Baojun, and Wuling brand names. It also sells cars and trucks to dealers for consumer retail sales, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments.
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