YHOO: Yahoo! 4Q Earnings Fall 23%

Yahoo! 4Q Earnings Fall 23%

Yahoo reported a 23% drop in its fourth-quarter profit and provided a tepid outlook for 2008. The company is preparing to lay off as many as 1,000 workers, and it will face increasing pressure to either accept a buyout or make a deal with rival Google to run its search engine and increase ad revenue. The recent drop price accelerates the falling trend for Yahoo!'s stock, which has seen its market value fall over 50% since the end of 2005, obliterating $35 billion in shareholder wealth.

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