Yahoo Shares Up, But Microsoft Standing Firm on Its Bid

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Yahoo's first-quarter revenue and profit landed in the high end of expectations, but Microsoft Corp. Chief Executive Steve Ballmer said earlier in the day no matter how good the results, they wouldn't lead his company to raise its bid for Yahoo.

Yahoo said Tuesday its revenue increased 9% to $1.82 billion compared with a year earlier. Yahoo executives said they aren't opposed to a sale to Microsoft, which has threatened a hostile takeover if the two don't reach a friendly deal by Saturday, but they insist on getting Yahoo's full value in any transaction.

Yahoo Shares Up, But Microsoft Standing Firm on Its Bid [online.wsj.com]