Yahoo 2007 Annual Report Download - page 38

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Forward-Looking Statements
In addition to current and historical information, this Report contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to our future operations,
prospects, potential products, services, developments, and business strategies. These statements can, in some cases,
be identified by the use of terms such as “may,” “will,” “should,” “could,” “would,” “intend,” “expect,” “plan,”
“anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” or “continue,” other comparable terminol-
ogy, or the negative of such terms. This Report includes, among others, forward-looking statements regarding our:
• expectations about revenues for marketing services and fees;
• expectations about growth in users;
• expectations about cost of revenues and operating expenses;
• expectations about effective tax rate;
• expectations about our on-going strategic initiatives;
• anticipated capital expenditures;
• impact of recent acquisitions on our business and evaluation of possible acquisitions of, or investments in,
businesses, products, and technologies; and
• expectations about positive cash flow generation and existing cash, cash equivalents, and investments being
sufficient to meet normal operating requirements.
These statements involve certain known and unknown risks and uncertainties that could cause our actual results to
differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties
include, among others, those listed in Part 1, Item 1A “Risk Factors” of this Annual Report on Form 10-K. We do
not intend, and undertake no obligation, to update any of our forward-looking statements after the date of this
Report to reflect actual results or future events or circumstances.
Overview
We are a leading global Internet brand and one of the most trafficked Internet destinations worldwide. We are
focused on powering our communities of users, advertisers, publishers, and developers by creating indispensable
experiences built on trust. We seek to provide Internet services that are essential and relevant to these communities
of users, advertisers, publishers, and developers. Publishers, such as eBay Inc., WebMD, Cars.com, Forbes.com,
and the Newspaper Consortium (our strategic partnership with a consortium of over 20 leading United States
(“U.S.”) newspaper publishing companies), are a subset of our Affiliates and are primarily Websites and search
engines that attract users by providing content of interest, presented on Web pages that have space for
advertisements.
To users, we provide owned and operated online properties and services (“Yahoo! Properties” or “Offerings” or
“Owned and Operated sites”). We also extend our marketing platform and access to Internet users beyond Yahoo!
Properties through our distribution network of third-party entities (referred to as “Affiliates”) who have integrated
our advertising offerings into their Websites (referred to as “Affiliate sites”) or their other offerings.
We focus on expanding our communities of users and deepening their engagement on Yahoo! Properties to enhance
the value of our users to advertisers and publishers and thereby increase the spending of advertisers and publishers
with us. We believe that we can expand our communities of users by offering compelling Internet services and
effectively integrating search, community, personalization, and content to create a powerful user experience. We
leverage our user relationships and the social community the users create to enhance our online advertising
potential, as well as our fee-based services.
To advertisers and publishers, we provide a range of marketing solutions and tools that enable businesses to reach
users who visit Yahoo! Properties and our Affiliate sites.
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