Shares of Yahoo on Thursday climbed to a 3-year high after the online media company said its quarterly profit more than doubled and its advertising prospects are strong, which also lifted other Internet stocks. It closed at $56.21 on Nasdaq, up 16.3 percent for the day.
Wall Street analysts cheered Yahoo’s results. J.P. Morgan analyst Aaron Kessler said that over the next 3-to-5 years Yahoo could generate more than 25 percent revenue growth and over 30 percent cash-flow gains
Related: Yahoo Profit Up on Online Ad Growth
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