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Yahoo Says Traffic Rose Despite Hacking That Could Alter Verizon Deal

Verizon's $4.8 billion acquisition of Yahoo may be on the line due to revelations about a major data breach in 2014, and Verizon wants to renegotiate the terms of the deal. But  remarkably, traffic on Yahoo rose slightly after the September 22 disclosure about the breach, according to a New York Times report. In 2014, nearly 500 million Yahoo accounts were hacked, and Verizon alleges the breach "could have been severe enough to set off a provision in the sale agreement that would allow Verizon to reopen the deal," according to the report. Yahoo reported Q3 results that exceeded Wall Street’s expectations, and the stock rose more than 1% in after-hours trading. The company’s Q3 revenue fell 15% versus the same period the previous year, after adjusting for an accounting change. However, Yahoo's profits increased "as management cut capital spending and eliminated 300 jobs over the last three months," the paper reported.

Read the whole story at The New York Times »

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