Exhibit 99.1

Yahoo! Reports Fourth Quarter and Full Year 2011 Results

Fourth Quarter Operating Income Increases 10% Year over Year

SUNNYVALE, Calif.--(BUSINESS WIRE)--January 24, 2012--Yahoo! Inc. (NASDAQ: YHOO) today reported results for the fourth quarter and full year ended December 31, 2011.

Revenue excluding traffic acquisition costs (“revenue ex-TAC”) was $1,169 million for the fourth quarter of 2011, a 3 percent decrease from the fourth quarter of 2010. Income from operations increased 10 percent to $242 million in the fourth quarter of 2011, compared to $220 million in the fourth quarter of 2010.

GAAP revenue was $1,324 million for the fourth quarter of 2011, a 13 percent decrease from the fourth quarter of 2010.

Revenue ex-TAC was $4,381 million for the full year ended December 31, 2011, a 5 percent decrease from the same period of 2010. The year over year decrease was primarily due to the revenue share related to the Search Agreement with Microsoft. Income from operations increased 4 percent to $800 million for the full year ended December 31, 2011, compared to $773 million for the same period of 2010.

GAAP revenue was $4,984 million for the full year ended December 31, 2011, a 21 percent decrease from the same period of 2010, primarily due to the required change in revenue presentation related to the Search Agreement and the associated revenue share with Microsoft.

Net earnings per diluted share was $0.24 in both the fourth quarter of 2011 and the fourth quarter of 2010.

Financials at a Glance

Quarterly Results (in millions, except percentages and per share amounts)
    Q4 2010   Q4 2011   Percent Change
Revenue ex-TAC $1,205 $1,169 (3)%
GAAP revenue $1,525 $1,324 (13)%
Income from operations $220 $242 10%
Net earnings $312 $296 (5)%
Net earnings per diluted share $0.24 $0.24 0%

“Yahoo! continued to make progress in the quarter with operating income increasing ten percent year over year,” said Scott Thompson, Yahoo! CEO. “In 2012 we will be aligning resources behind key areas of focus to enable us to move aggressively in market and grow our business, bringing innovative new products and experiences to both our users and advertisers.”


The following information was filed by Yahoo Inc (YHOO) on Tuesday, January 24, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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