Here's The Part Of Yahoo's Earnings Report That Matters The Most

Yahoo just announced its earnings and stock is soaring, because of its stake in Alibaba, the giant Chinese e-commerce company that will file for an IPO in the U.S. this year.

Yahoo, which owns a 24% stake in Alibaba, saw its earnings in equity interest rise to $301 million, a 39% increase.

For Alibaba, revenue was up an amazing 66% in Q1, reaching $3.06 billion. Its net income was up 110% to $1.36 billion.