Yahoo 2013 Annual Report Download - page 47
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The following table sets forth selected information concerning our results of operations as a percentage of
revenue for the period indicated:
Years Ended December 31,
2011 2012 2013
(dollars in thousands)
Revenue for groups of similar services:
Display
Yahoo Properties ..................................................... 40% 39% 37%
Affiliate sites ........................................................ 3% 4% 5%
Total Display revenue ............................................. 43% 43% 42%
Search
Yahoo Properties ..................................................... 21% 24% 29%
Affiliate sites ........................................................ 16% 14% 8%
Total Search revenue .............................................. 37% 38% 37%
Other .................................................................. 20% 19% 21%
Total revenue .................................................... 100% 100% 100%
Cost of revenue—TAC .................................................... 12% 10% 6%
Cost of revenue—other .................................................... 20% 22% 23%
Sales and marketing ...................................................... 23% 22% 24%
Product development ...................................................... 18% 18% 22%
General and administrative ................................................. 10% 11% 12%
Amortization of intangibles ................................................. 1% 1% 1%
Gains on sales of patents ................................................... — — (2)%
Goodwill impairment charge ................................................ — — 1%
Restructuring charges, net .................................................. — 5% —
Total operating expenses ........................................... 84% 89% 87%
Income from operations ........................................... 16% 11% 13%
Includes:
Stock-based compensation expense .................................. 4% 4% 6%
Costs associated with the Korea business and its closure .................. — 2% —
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