Friday, 1 February 2008

Yahoo Full Year 2007 Revenue Up, Operating Income Falls

Yahoo! Inc. this week reported results for the fourth quarter and full year ended December 31, 2007. The Internet behemoth enjoyed total revenue at 6,969 million dollars for 2007an 8% increase compared to 2006 but saw a sharp decline of 26% in its overall operating income for that year...

Yahoo! Inc. this week reported results for the fourth quarter and full year ended December 31, 2007.

The Internet behemoth enjoyed total revenue at 6,969 million dollars for 2007, an 8% increase compared to 2006 but saw a sharp decline of 26% in its overall operating income for that year, which stood at 695 million. Its operating income for 2006 was 941 million.

"The steps we’ve been taking over the course of the past year represent profound, fundamental changes to virtually every aspect of Yahoo!’s business, and we're confident they will help us drive our next leg of growth and gain future ad market share. Even as we increase investment in key areas of our business, we’re making tough but necessary decisions to streamline our organization and redeploy assets to our most promising technology and marketing initiatives,” said Sue Decker, president, Yahoo! Inc.

“We still have a tremendous amount of work to do, but we’re confident we can substantially improve our users' experiences and achieve meaningful incremental monetization opportunities for Yahoo!’s own ad inventory and that of our partners."

“While we will continue to face headwinds this year, we believe that the moves we are making will help us exit 2008 stronger and more competitive and return to higher levels of operating cash flow growth in 2009,"added Jerry Yang, co-founder and chief executive officer, Yahoo! Inc.