Read the Earnings Release

- Yahoo reported third quarter 2008 financial results, with revenues of $1.786 billion, operating income of $70 million, and operating income before depreciation and amortization of $410 million. - Revenues were up slightly by 1% year-over-year, while operating income was down 53% due to costs associated with strategic initiatives and a more difficult economic climate. - Yahoo announced cost reduction initiatives aimed at reducing expenses by over $400 million by the end of 2008, including a workforce reduction of at least 10%.