AP News

News Summary: Yahoo's 3Q raises investor hopes

ENCOURAGING START: Yahoo delivered a third-quarter earnings report that exceeded analyst estimates to kick off the tenure of its latest CEO, Marissa Mayer. She defected from Google Inc. in mid-July, two weeks after the third quarter started.

KEY NUMBER: Yahoo's net revenue increased 2 percent to $1.09 billion from the same time last year. The figure reflects the amount of money that Yahoo keeps after paying ad commissions. Although modest, the gain raised hopes that Yahoo is starting to snap out of a financial malaise that began in 2008.

THE MISSION: Mayer told analysts that Yahoo's quest is to "inspire, innovate and entertain" and make its site a daily habit for its 700 million users.

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