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Revenues by Geography

Domestic and international revenues as a percentage of consolidated revenues, determined based on the billing addresses of our advertisers are set forth below (unaudited):

The growth in international revenues as a percentage of consolidated revenues in the three months ended March 31, 2009 compared to the three months ended March 31, 2008 resulted largely from increased acceptance of our advertising programs, increases in our direct sales resources and customer support operations in international markets and our continued progress in developing localized versions of our products for these international markets. The growth in international revenues as a percentage of consolidated revenues in the three months ended March 31, 2009 compared to the three months ended December 31, 2008 resulted from seasonally stronger traffic in the United Kingdom and certain other countries.

The strengthening of the U.S. dollar relative to foreign currencies (primarily the British pound and the Euro) in the three months ended March 31, 2009 compared to the three months ended March 31, 2008 had an unfavorable impact on our international revenues (international revenues increased $231.4 million during this period). Had foreign exchange rates remained constant in these periods, our total revenues would have been approximately $429 million, or 7.8%, higher. This is before consideration of hedging gains recognized to revenue of $154.1 million and zero in the three months ended March 31, 2009 and March 31, 2008.

The strengthening of the U.S. dollar relative to foreign currencies (primarily the British pound and the Euro) in the three months ended March 31, 2009 compared to the three months ended December 31, 2008 had an unfavorable impact on our international revenues (international revenues increased $19.1 million during this period). Had foreign exchange rates remained constant in these periods, our total revenues in the three months ended March 31, 2009 would have been approximately $120 million, or 2.2%, higher. This is before consideration of hedging gains recognized to revenue of $154.1 million and $128.9 million in the three months ended March 31, 2009 and December 31, 2008.

Although we expect to continue to make investments in international markets, they may not result in an increase in our international revenues as a percentage of total revenues in 2009 or thereafter. See Note 13 of Notes to Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information about geographic areas.

Revenues by Geography

Domestic and international revenues as a percentage of consolidated revenues, determined based on the billing addresses of our advertisers, are set forth below.

The decrease in international revenues as a percentage of total revenue from the three months ended September 30, 2008 to the three months ended December 31, 2008 resulted primarily from the strengthening of the U.S. dollar relative to other foreign currencies (primarily the Euro and the British pound) over these periods, partially offset by the increase in gains realized from our foreign exchange risk management program.

The annual growth in international revenues resulted largely from increased acceptance of our advertising programs and increases in our direct sales resources and customer support operations in international markets and our continued progress in developing localized versions of our products for these international markets as well as an increase in the value of the Euro, the Japanese yen and other foreign currencies compared to the U.S. dollar over these periods.

The strengthening of the U.S. dollar relative to other foreign currencies (primarily the Euro and the British pound) in the three months ended December 31, 2008 compared to the three months ended September 30, 2008 had an unfavorable impact on our international revenues (international revenues increased $16.5 million during this period). Had foreign exchange rates remained constant in these periods, our total revenues in the three months ended December 31, 2008 would have been approximately $334 million, or 5.9%, higher. This is before consideration of hedging gains recognized to revenue of $34.2 million and $128.9 million in the three months ended September 30, 2008 and December 31, 2008.

The weakening of the U.S. dollar relative to other foreign currencies (primarily the Euro and the Japanese yen) in the twelve months ended December 31, 2008 compared to the twelve months ended December 31, 2007 had a favorable impact on our international revenues (international revenues increased $3.3 billion during this period). Had foreign exchange rates remained constant in these periods, our total revenues would have been approximately $353.5 million, or 1.6%, lower. This is before consideration of hedging gains recognized to revenue of zero and $167.8 million in the twelve months ended December 31, 2007 and December 31, 2008.

Although we expect to continue to make investments in international markets, they may not result in an increase in our international revenues as a percentage of total revenues in 2009 or thereafter. See Note 15 of Notes to Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K for additional information about geographic areas.

Revenues by Geography

Domestic and international
revenues as a percentage of consolidated revenues, determined based on the billing addresses of our advertisers, are set forth below.

The decrease in international revenues as a percentage of total revenue from the three months
ended September 30, 2008 to the three months ended December 31, 2008 resulted primarily from the strengthening of the U.S. dollar relative to other foreign currencies (primarily the Euro and the British pound) over these periods, partially
offset by the increase in gains realized from our foreign exchange risk management program.

The annual growth in international revenues
resulted largely from increased acceptance of our advertising programs and increases in our direct sales resources and customer support operations in international markets and our continued progress in developing localized versions of our products
for these international markets as well as an increase in the value of the Euro, the Japanese yen and other foreign currencies compared to the U.S. dollar over these periods.

Revenues by Geography

Domestic and international revenues as a percentage of consolidated revenues, determined based on the billing addresses of our advertisers, are set forth below (unaudited):

The growth in international revenues in the three and nine months ended September 30, 2008 compared to the three and nine months ended September 30, 2007 resulted largely from increased acceptance of our advertising programs, increases in our direct sales resources and customer support operations and our continued progress in developing localized versions of our products in these international markets as well as an increase in the value of the Euro, the Japanese yen and other foreign currencies compared to the U.S. dollar over these periods. The decrease in international revenues as a percentage of total revenue from the three months ended June 30, 2008 to the three months ended September 30, 2008 resulted primarily from the impact of foreign exchange fluctuations.

The strengthening of the U.S. dollar relative to other foreign currencies (primarily the Euro and the British pound) in the three months ended September 30, 2008 compared to the three months ended June 30, 2008 had an unfavorable impact on our international revenues, which increased $46.2 million. Had foreign exchange rates remained constant in these periods, our total revenues would have been approximately $59.3 million, or 1.1%, higher. The weakening of the U.S. dollar relative to other foreign currencies (primarily the Euro and the Japanese yen) in the three months ended September 30, 2008 compared to the three months ended September 30, 2007 had a favorable impact on our international revenues, which increased $820.8 million. Had foreign exchange rates remained constant in these periods, our total revenues would have been approximately $168.5 million, or 3.0%, lower.

Also, we recognized a benefit of $34.2 million and $38.9 million to revenue through our foreign exchange risk management program for the three and nine months ended September 30, 2008. See Note 4 to Consolidated Financial Statements included in Part I, Item 1 of this Form 10-Q for additional information.

Although we expect to continue to make investments in international markets, they may not result in an increase in our international revenues as a percentage of total revenues in 2008 or thereafter. See Note 14 of Notes to Consolidated Financial Statements included in Part I, Item 1 of this Form 10-Q for additional information about geographic areas.

Revenues by Geography

Domestic and international revenues as a percentage of consolidated revenues, determined based on the billing addresses of our advertisers, are set forth below (unaudited):

The growth in international revenues in the three and six months ended June 30, 2008 compared to the three and six months ended June 30, 2007 resulted largely from increased acceptance of our advertising programs, increases in our direct sales resources and customer support operations in international markets and our continued progress in developing localized versions of our products for these international markets. Furthermore, the growth in international revenues from the three months ended March 31, 2008 to the three months ended June 30, 2008 resulted from seasonally stronger traffic and monetization in certain advertising verticals, such as automotive and consumer packaged goods in Europe (other than the United Kingdom) and certain other countries compared to the U.S.

In addition, the weakening of the U.S. dollar relative to other foreign currencies (primarily the Euro and the Japanese yen) in the three months ended June 30, 2008 compared to the three months ended March 31, 2008 had a favorable impact on our international revenues, which increased $149.6 million. Had foreign exchange rates remained constant in these periods, our total revenues would have been approximately $87.6 million, or 1.6%, lower. The weakening of the U.S. dollar relative to other foreign currencies (primarily the Euro and the Japanese yen) in the three months ended June 30, 2008 compared to the three months ended June 30, 2007 had a favorable impact on our international revenues, which increased $956.1 million. Had foreign exchange rates remained constant in these periods, our total revenues would have been approximately $249.2 million, or 4.6%, lower.

Although we expect to continue to make investments in international markets, they may not result in an increase in our international revenues as a percentage of total revenues in 2008 or thereafter. See Note 14 of Notes to Consolidated Financial Statements included as part of this Form 10-Q for additional information about geographic areas.

Revenues by Geography

Domestic and international revenues as a percentage of consolidated revenues, determined based on the billing addresses of our advertisers, are set forth below (unaudited):

The growth in international revenues in the three months ended March 31, 2008 compared to the three months ended December 31, 2007 and the three months ended March 31, 2007 resulted largely from increased acceptance of our advertising programs, increases in our direct sales resources and customer support operations in international markets and our continued progress in developing localized versions of our products for these international markets. Furthermore, the growth in international revenues from the three months ended December 31, 2007 to the three months ended March 31, 2008 resulted from seasonally stronger traffic and monetization in certain advertising verticals, such as travel and finance in the United Kingdom and certain other countries compared to the U.S.

In addition, the weakening of the U.S. dollar relative to other foreign currencies (primarily the Euro and the British pound) in the three months ended March 31, 2008 compared to the three months ended December 31, 2007 had a favorable impact on our international revenues, which increased $329.8 million. Had foreign exchange rates remained constant in these periods, our total revenues would have been approximately $18.1 million, or 0.3%, lower. The weakening of the U.S. dollar relative to other foreign currencies (primarily the Euro and the British pound) in the three months ended March 31, 2008 compared to the three months ended March 31, 2007 had a favorable impact on our international revenues, which increased $945.0 million. Had foreign exchange rates remained constant in these periods, our total revenues would have been approximately $202.0 million, or 3.9%, lower.

Although we expect to continue to make investments in international markets, they may not result in an increase in our international revenues as a percentage of total revenues in 2008 or thereafter. See Note 14 of Notes to Consolidated Financial Statements included as part of this Form 10-Q for additional information about geographic areas.

Revenues by Geography

Domestic and international revenues as a percentage of consolidated revenues, determined based on the billing addresses of our advertisers, are set forth below.

The decrease in the United Kingdom revenues as a percentage of total revenues from the three months ended September 30, 2007 to the three months ended December 31, 2007 is primarily a result of seasonal slowdown in certain advertising verticals, such as finance and travel.

The yearly growth in international revenues resulted largely from increased acceptance of our advertising programs and increases in our direct sales resources and customer support operations in international markets and our continued progress in developing localized versions of our products for these international markets.

In addition, the weakening of the U.S. dollar relative to other foreign currencies (primarily the euro and the British pound) in the three and twelve months ended December 31, 2007 compared to the three months ended September 30, 2007 and the twelve months ended December 31, 2006 had a favorable impact on our international revenues, which increased $295.2 million and $3,321.2 million. Had foreign exchange rates

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remained constant in these periods, our total revenues would have been approximately $93.6 million and $542.0 million, or 1.9% and 3.3%, lower.

While international revenues in each of the periods presented accounted for less than half of our total revenues, more than half of our user traffic during these periods came from outside the U.S. Although we expect to continue to make investments in international markets, they may not result in an increase in our international revenues as a percentage of total revenues in 2008 or thereafter. See Note 14 of Notes to Consolidated Financial Statements included in Item 8 of this Annual Report on Form 10-K for additional information about geographic areas.

Revenues by Geography

Domestic and international revenues as a percentage of consolidated revenues, determined based on the billing addresses of our advertisers, are set forth below (unaudited):

The growth in international revenues in the three and nine months ended September 30, 2007 compared to the three and nine months ended September 30, 2006 resulted largely from increased acceptance of our advertising programs, increases in our direct sales resources and customer support operations in international markets and our continued progress in developing localized versions of our products for these international markets.

In addition, the weakening of the U.S. dollar relative to other foreign currencies (primarily the euro and the British pound) in the three months ended September 30, 2007, compared to the three months ended June 30, 2007 had a favorable impact on our international revenues, which increased $181.5 million period over period. Had foreign exchange rates remained constant in these periods, our revenues would have been approximately $24.2 million or 0.6% lower. The weakening of the U.S. dollar relative to other foreign currencies (primarily the euro and the British pound) in the three months ended September 30, 2007 compared to the three months ended September 30, 2006 had a favorable impact on our international revenues, which increased $842.7 million period over period. Had foreign exchange rates remained constant in these periods, our revenues would have been approximately $121.0 million or 2.9% lower.

While international revenues in each of the periods presented accounted for less than half of our total revenues, more than half of our user traffic during these periods came from outside the U.S. Although we expect to continue to make investments in international markets, they may not result in an increase in our international revenues as a percentage of total revenues in 2007 or thereafter. See Note 12 of Notes to Consolidated Financial Statements included as part of this Form 10-Q for additional information about geographic areas.

Revenues by Geography

Domestic and international revenues as a percentage of consolidated revenues, determined based on the billing addresses of our advertisers, are set forth below (unaudited):

The growth in international revenues in the three and six months ended June 30, 2007 compared to the three and six months ended June 30, 2006 resulted largely from increased acceptance of our advertising programs, increases in our direct sales resources and customer support operations in international markets and our continued progress in developing localized versions of our products for these international markets. Furthermore, the growth in international revenues from the three months ended March 31, 2007 to the three months ended June 30, 2007 also resulted from seasonally stronger traffic and monetization in certain other countries compared to the U.S.

In addition, the weakening of the U.S. dollar relative to other foreign currencies (primarily the euro and the British pound) in the three months ended June 30, 2007, compared to the three months ended March 31, 2007 had a favorable impact on our international revenues, which increased $138.5 million period over period. Had foreign exchange rates remained constant in these periods, our revenues would have been approximately $35.0 million or 0.9% lower. The weakening of the U.S. dollar relative to other foreign currencies (primarily the euro and the British pound) in the three months ended June 30, 2007 compared to the three months ended June 30, 2006 had a favorable impact on our international revenues, which increased $809.1 million period over period. Had foreign exchange rates remained constant in these periods, our revenues would have been approximately $121.0 million or 3.1% lower.

While international revenues in each of the periods presented accounted for less than half of our total revenues, more than half of our user traffic during these periods came from outside the U.S. Although we expect to continue to make investments in international markets, they may not result in an increase in our international revenues as a percentage of total revenues in 2007 or thereafter. See Note 11 of Notes to Condensed Consolidated Financial Statements included as part of this Form 10-Q for additional information about geographic areas.