Yahoo Buys Back Shares From Softbank

Internet search site Yahoo Inc. paid about $100 million to repurchase almost 11.1 million shares of its common stock from Softbank America Inc.

Yahoo, which said it had more than 1 million paying customers at the end of the second quarter, wants to show that the company can “deliver long-term growth and profitability,” Chief Financial Officer Susan Decker said.

Yahoo shares rose $1.12, or 12%, to $10.25 on Nasdaq. They have fallen 42% this year.