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Earnings: Net Income Soars, But Sees 'Economic Winter'

This story was written by Joseph Weisenthal., the Chinese B2B marketplace, in which Yahoo (NSDQ: YHOO) holds direct and indirect stakes, said revenue for the first half of '08 jumped 47.8 percent to RMB 1.45 billion ($211.9 million). Net income was up 136 percent to 697.2 million ($101.8). In terms of raw numbers, has 32.5 million users, an increase of 32.5 percent. So far, the company is weathering the weak global economy, but it says it's starting to see a slowdown in the addition of Gold Supplier members in light of the "economic winter". It expects this weakness to continue into next year, although in the long-term the company is confident it will ride China's growth, as a key global supplier.

Yahoo owns a 39 percent stake in Alibaba, which itself owns 75 percent of Yahoo also invested another $100 million (about 1 percent) in prior to its IPO last year. There's been talk of Yahoo liquidating its Asian assets for the sake of shareholders, though that chatter has died down along with Microsoft (NSDQ: MSFT) talk.

By Joseph Weisenthal