Yahoo!'s Shares Fall

However, Rosensweig said the financial impact from Project Panama on Yahoo!'s revenue will not be felt until the second half of 2007. Yahoo! plans to roll out the system carefully on an industry-by-industry basis. "It will be a slow and deliberate migration plan," he says.

The news comes as investors scour Yahoo!'s numbers for signs the media company has gotten its many problems under control. The company's shares were off 38% this year coming into Tuesday's postclose report, as Yahoo! has repeatedly tempered growth hopes and fumbled efforts such as Panama.

Back on July 18, when Yahoo! last reported quarterly earnings, the company pulled off the rare triple of reporting a revenue shortfall, underwhelming Wall Street with weak guidance and admitting that its efforts to catch up with Google weren't going so well. Shares plunged 18% the next day to a two-year low.

In regular trading Tuesday, Yahoo! fell 3 cents to $24.15.