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Business Description
Yahoo! Inc. together with its consolidated subsidiaries, is a global Internet brand. The Company provides Internet services that are essential and relevant to users, and businesses through the provision of online properties (the Yahoo! Network) to Internet users and a range of tools and marketing solutions for businesses to market to that community of users. The Company is focused on extending the marketing platform and access to Internet users beyond the Yahoo! Network through the distribution network of third-party entities (affiliates) that have integrated the sponsored search offerings into their Websites. Many of the services are free to the users. It provides services that allow businesses to list information on properties on the Yahoo! Network. The offerings to users and businesses fall into three categories: Search and Marketplace; Information and Content, and Communications and Consumer Services.

Financial Information
For the fiscal year ended 12/31/04, revenues totaled $3.57 billion, up from $1.63 billion. Net income totaled $839.6 million, up from $237.9 million. Results reflect increased marketing services, fees and listings sales resulted from growth in Yahoo!'s organic sales and acquisitions and higher investment gains.