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In last hurrah, Yahoo revenue jumps 22% as quarterly earnings smash expectations

Yahoo reported a 22.1 percent increase in quarterly revenue on Tuesday, ahead of the sale of its core internet business to Verizon Communications.

  • EPS: 18 cents per share, ex-items, vs. Thomson Reuters estimate of 14 cents per share
  • Revenues: $1.33 billion vs. Thomson Reuters estimate of $1.23 billion

"As we enter our final quarter as an independent company, we are committed to finishing strong and planning for the best possible integration with Verizon," Yahoo CEO Marissa Mayer said in a statement. "With the transaction anticipated to complete in June, I've never been more proud of the improvements we've made to the business and the value we've delivered to our shareholders."

Yahoo said revenue from Mavens — the mobile, video, native and social advertising units that it has touted as key emerging businesses — rose 35.6 percent to $529 million in the first quarter ended March 31.

Net income attributable to Yahoo was $99.4 million, or 10 cents per share in the quarter, compared with a net loss of $99.2 million, or 10 cents per share, a year earlier.

Revenue rose to $1.33 billion from $1.09 billion.

Verizon in February agreed to buy Yahoo's core business — which includes its internet search and email assets — for $4.48 billion, lowering its original offer by $350 million, in the wake of two massive cyber attacks at the internet company.

The stock barely budged after hours.

— CNBC's Anita Balakrishnan contributed to this report