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Who Cares About Facebook? Alibaba is Now Bigger

Published: May 7, 2013 | 11:58 pm
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(CNA)-Earlier this morning, Yahoo released its latest 10Q filing, Forbes reports.

In it, there were several positive details disclosed.  However, the biggest one that jumped out was how its investment in China’s Alibaba Group was doing.

Recall that Yahoo! owns 24% of Alibaba and will sell half that stake when Alibaba IPOs — which could be as soon as next week.

Yesterday, there was a Bloomberg article discussing that Alibaba management wants to avoid a “Facebook FB -2.47% Flop”.  Therefore, according to that article, Alibaba management wants to avoid going public at $100 billion valuation and would rather go public at a more tempered amount.  Bloomberg suggests something like $62.5 billion would be more reasonable.

Yet, according to the details embedded within today’s Yahoo! 10Q, Alibaba Group is now larger than Facebook.

Here are the facts.

In Q4, Facebook reported $1.54 billion in revenue and $64 million in net income.

In Q4 (reported today, as Alibaba’s financials are reported on a 1 quarter lag in Yahoo’s filings), Alibaba did $1.84 billion in revenue and $650 million in net income.

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