Yahoo reports improved third-quarter financial results, thanks to a strong online advertising market.

Yahoo reports improved third-quarter financial results, thanks to a strong online advertising market.

The company -- which recently entered into a deal to buy the assets of MusicMatch for $180 million -- today (Oct. 12) said third-quarter net income nearly quadrupled to $253 million, or 17 cents per share, while revenues almost tripled to $906 million.

Minus one-time gains from selling some of its stake in Google and from a separate tax benefit, net income totaled $129 million, or 9 cents a share. Net income in last year's third quarter was $65 million.

Shares in the company closed up less than 1% at $34.23 ahead of the announcement.