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This is an entry for Shoemoney’s “Come To The SEO ThinkTank 2008 ON ME!” contest, coming up soon in San Diego on September 26th, 27th and 28th. (see details here)
First let me say… I love SEO, I love to learn, I love to share, and I love San Diego. But I’m guessing that probably won’t [...]

Yahoo Second Quarter 2008 Financial Results
• Revenues were $1,798 million for the second quarter of 2008, a 6 percent increase compared to $1,698 million for the same period of 2007.

• Marketing services revenues were $1,587 million for the second quarter of 2008, a 7 percent increase compared to $1,486 million for the same period of 2007.

“Yahoo!’s transformation gained momentum in the second quarter as we announced new product initiatives and partnerships along with solid financial results,” said Sue Decker, president Yahoo! in a statement. “We advanced our position with users by opening up Yahoo! through new innovative offerings like SearchMonkey and BOSS in search and have seen great improvements with Buzz in the freshness of content on our home page. Our commercial agreement with Google is another great example of our open strategy and we expect it will strengthen our competitive position as a leading provider of search and display advertising. On the advertising side, our growing list of major agency partners including Publicis, WPP, Havas and premier publishing partners including walmart.com, and CNET and Turner are great examples of our ability to be the partner of choice across search and display advertising. We remain confident that our efforts will lead to a stronger and more profitable Yahoo!.”

o Marketing services revenues from Owned and Operated sites were $1,016 million for the second quarter of 2008, a 14 percent increase compared to $892 million for the same period of 2007.

o Marketing services revenues from Affiliate sites were $571 million for the second quarter of
2008, a 4 percent decrease compared to $594 million for the same period of 2007.

• Fees revenues were $211 million for the second quarter of 2008, a less than 1 percent decrease compared to $212 million for the same period of 2007.

• Revenues excluding traffic acquisition costs (“TAC”) were $1,346 million for the second quarter of 2008, an 8 percent increase compared to $1,244 million for the same period of 2007.

• Operating income for the second quarter of 2008 was $101 million, a 45 percent decrease compared to $185 million for the same period of 2007.

o Operating income for the second quarter of 2008 includes incremental costs of $22 million
incurred for outside advisors related to Microsoft’s proposals to acquire all or a part of the
Company, other strategic alternatives, the proxy contest, and related litigation defense costs.

• Free cash flow for the second quarter of 2008 was $231 million, a 30 percent decrease compared to $328 million for the same period of 2007.

• Net income for the second quarter of 2008 was $131 million or $0.09 per diluted share compared to $161 million or $0.11 per diluted share for the same period of 2007.

“Despite a difficult economic environment, we posted solid results in line with the ranges we indicated in April,” said Blake Jorgensen, chief financial officer, Yahoo! in a statement. “GAAP revenue was $1.8 billion, with operating cash flow on a normalized basis coming in at $449 million. Our diverse advertiser base and compelling value proposition for our customers were key factors behind Yahoo!’s strong second quarter performance.”

We’re not sure what the long-term implications of the Yahoo-Yang-Icahn settlement will be. In the short term, though, the agreement that ended the impending proxy fight appears to have inspired Jerry Yang to use capital letters in his memos to employees.

Here’s the full text of Jerry Yang’s take on the Icahn affair.

Today, Yahoo! moves past a distracting proxy contest. This morning we announced a settlement with Carl Icahn which will enable Yahoo! to put an end to this challenging chapter in our history, and allow us to get back to the business at hand – building our business and maximizing value for all stockholders.

Over the past few weeks we’ve made progress communicating with investors, helping them to better understand our roadmap for long-term growth, our valuable combination of assets, and our solid position in the converging search and display marketplaces. These discussions have been productive for everyone.

Under the terms of the settlement with Mr. Icahn, he has withdrawn his nominees for consideration at the annual meeting, and has agreed to vote his Yahoo! shares in support of the Board’s nominees. At our annual stockholder meeting on Aug. 1, we’ll ask stockholders to re-elect eight of our current directors. (In connection with the settlement of the proxy contest, Bobby Kotick has notified the Company that he will not stand for re-election to the Board.) After the annual meeting, Mr. Icahn will be appointed to our Board. We’ve also agreed to expand our Board to make room for two additional members to be chosen by the Board upon the recommendation of the Board’s Nominating and Governance Committee from a list that includes the rest of Mr. Icahn’s slate and Jon Miller, former Chairman and CEO of AOL.

We’re pleased that both parties were able to work together productively to accomplish this settlement, and we look forward to working with the new Board members and benefiting from their fresh perspective.

Yahoo! is now moving forward with one team and one voice, and we’re excited about what the future holds.

Jerry Yang
CEO and Chief Yahoo

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There are many freebie blogs out there and I don’t spend a lot of time reading them, as most are just promoting affiliate offers hoping to capture $1 here and $1 there as you otpin to a form that will cause you to get more junk email than you can imagine.
Then there are the contest [...]