Yahoo!'s Candor Greeted Rudely by Street

But if investors are worrying about the effect of a post-IPO Google on the search business, Decker indicated once again that she isn't. "We think that search is an incredibly dynamic and fast-growing sector," she said. "And we think it can accommodate several major competitors."

While investors have been studying Google's newly published financials, Decker indicated that those numbers were old news to Yahoo!. As has already been disclosed, Yahoo! holds a stake in Google. And that partial ownership, said Decker, has its privileges. "Contractually, we've received their financials every quarter for the last four years," she said. "So there wasn't a lot incrementally we learned from the filing."