Yahoo Q4 as expected

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Yahoo has released its Q4 and fiscal year 2008 earnings results. Revenues were down to $1.806 billion in Q4, a 1% decrease from the same period in 2007 when revenues were $1.832 billion. For the year, however, revenues were up 3% over 2007 from $6.969 billion to $7.209 billion.

In 2008, marketing services revenues from owned and operated sites were up 10% to $4.046 million, but those revenues from affiliates sites fell 6% to $2.270 billion.

Yahoo's new CEO, Carol Bartz, was optimistic about the coming year. "Despite the challenging economic environment, Yahoo delivered adjusted operating cash flow above the midpoint of guidance for the fourth quarter," she said. "The company also made important investments while aggressively managing costs, leaving us better positioned to weather the economic downturn and emerge stronger when advertiser spending improves. We have work to do, but I am excited by Yahoo's opportunities, and encouraged by the tremendous innovation and momentum I've seen since joining the company as CEO."

Additionally cash flow from operating activities was down 48% in Q4 from $622 million to $321 million, but only decreased 2% year over year to $1.880 billion.

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