Despite the hopes of many and rumors that Yahoo would post "strong" earnings, Q4 2007 results (.pdf) were mixed and net income was down from a year ago. In addition, CEO Jerry Yang said the company faced "headwinds" in 2008 and offered weak guidance but promised a return to growth in 2009. Investors were unhappy and stock was down at one point 10 percent in after-hours trading (this morning it has recovered).
Total revenue in Q4 was $1.83 billion, which represented 8 percent growth of the same period a year ago ($1.7 billion). Full year 2007 revenues for Yahoo were $6.97 billion. Simultaneously, Yahoo announced it would be cutting 1,000 jobs, which is at the low-end of the rumored range.
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