yahoo_logoYahoo’s financials this quarter have blown past expectations set for the company by Wall Street at a time when there is greater skepticism than ever about CEO Marissa Mayer’s leadership of the company.

The company reported earnings of 52 cents per share, up more than 50 percent over the same period a year ago and 22 cents above the consensus from financial analysts surveyed by Thomson Reuters. That’s progress for the company, which has been fighting to regain its place as a significant force in the tech industry.

Revenue for the quarter was $1.09 billion, which beat Wall Street’s expectations by $50 million. Those numbers don’t include revenue the company brought in from the partial sale of its stake in Alibaba Group, after the company went public earlier this year.

Those numbers may be enough to fend off some of Yahoo’s detractors, especially after hedge fund Starboard Value called on the company to merge with AOL.

In more good news for investors, the company said that it plans to return half of the cash it brings in from the Alibaba sale. According to Yahoo Chief Financial Officer Ken Goldman, the company probably won’t issue a dividend, but will expand its share repurchase program to return the cash.

Wall Street has responded well to the company’s report, sending its stock up 3 percent in after hours trading.

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