Yahoo 2012 Annual Report Download - page 54

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Results of Operations
Years Ended December 31, 2010-2011
% Change
2011-2012
% Change2010 2011 2012
(dollars in thousands)
Revenue for groups of similar services:
Display ............................ $2,154,886 $2,160,309 $2,142,818 0% (1)%
Search ............................. 3,161,589 1,853,110 1,885,860 (41)% 2%
Other .............................. 1,008,176 970,780 957,888 (4)% (1)%
Total revenue ................... $6,324,651 $4,984,199 $4,986,566 (21)% 0%
Cost of revenue—TAC .................... 1,736,423 603,371 518,906 (65)% (14)%
Cost of revenue—other .................... 945,651 983,626 1,101,660 4% 12%
Sales and marketing ...................... 1,263,992 1,122,193 1,101,572 (11)% (2)%
Product development ..................... 1,028,716 919,368 885,824 (11)% (4)%
General and administrative ................. 487,762 497,288 540,247 2% 9%
Amortization of intangibles ................ 31,626 33,592 35,819 6% 7%
Restructuring charges, net ................. 57,957 24,420 236,170 58% N/M
Total operating expenses .......... $5,552,127 $4,183,858 $4,420,198 (25)% 6%
Income from operations ........... $ 772,524 $ 800,341 $ 566,368 4% (29)%
Includes:
Stock-based compensation expense . . $ 223,478 $ 203,958 $ 224,365 (9)% 10%
Costs associated with the Korea
business and its closure .......... $ — $ — $ 99,485 0% 100%
N/M = Not Meaningful
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