Yahoo!'s CEO Discusses Q1 2012 Results - Earnings Call Transcript

Yahoo! (YHOO)

Q1 2012 Earnings Call

April 17, 2012 5:00 pm ET

Executives

Unknown Executive -

Scott Thompson - Chief Executive Officer, President and Director

Timothy R. Morse - Chief Financial Officer

Analysts

Ross Sandler - RBC Capital Markets, LLC, Research Division

Brian J. Pitz - UBS Investment Bank, Research Division

Mark S. Mahaney - Citigroup Inc, Research Division

Spencer Wang - Crédit Suisse AG, Research Division

Anthony J. DiClemente - Barclays Capital, Research Division

Bo Nam - JP Morgan Chase & Co, Research Division

Ronald Josey - ThinkEquity LLC, Research Division

Benjamin A. Schachter - Macquarie Research

Carlos Kirjner - Sanford C. Bernstein & Co., LLC., Research Division

Lloyd Walmsley - Deutsche Bank AG, Research Division

James Lee - Credit Agricole Securities (USA) Inc., Research Division

Presentation

Operator

Good afternoon, ladies and gentlemen, and welcome to the Yahoo! First Quarter 2012 Earnings Conference Call. [Operator Instructions] Please note that this conference is being recorded. I will now turn the call over to June Ha [ph]. Mr. Ha [ph], you may begin.

Unknown Executive

Thank you, Chanel. Good afternoon, and welcome to Yahoo!’s First Quarter 2012 Earnings Conference Call. My name is June Ha [ph], and the new leader of the Investor Relations team here at Yahoo!. On the call today will be Scott Thompson, Chief Executive Officer; and Tim Morse, Chief Financial Officer.

Before we begin, I would like to remind you that today's call may contain forward-looking statements concerning matters such as our expected financial and operational performance and our long-term financial model; as well as our expectations for the economy in general and online advertising in particular; our Search Alliance with Microsoft; our capital allocation decisions; our restructuring costs and benefits; and our strategic, operational and product plans. Actual results may differ materially from the results predicted in our statements, and the reported results should not be considered indicative of future performance.

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