Earnings Call Excerpt
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Yahoo! Inc. (YHOO)
Q3 2009 Earnings Call
October 20, 2009 5:00 pm ET
Executives
Matt Rowe - Director, Investor Relations
Timothy R. Morse - Chief Financial Officer, Principal Accounting Officer
Analysts
Presentation
Operator
Good afternoon, ladies and gentlemen, and welcome to the Yahoo! third quarter 2009 earnings conference call. (Operator Instructions) I will now turn the call over to Mr. Matt [Rowe], Director of Investor Relations. Mr. Rowe, you may begin.
Marta Nichols
Thank you. Good afternoon, everyone and welcome to Yahoo!'s third quarter 2009 earnings conference call.
Before we begin, I would like to remind you that today’s call will contain forward-looking statements concerning matters such as our expected financial performance, our marketing and product plans, our cost initiatives, planned investments, corporate strategy, and our expectations for the economy in general and online advertising in particular. Actual results may differ materially from the results predicted in our statements and reported results should not be considered indicative of future performance.
The potential risks and uncertainties that could cause our business and financial results to differ materially from our forward-looking statements are described in our form 10K filed with the SEC on February 27, 2009, our form 10Q filed with the SEC August 7, 2009 as well as in the earnings release included as Exhibit 99.1 to the form 8K we furnished today to the SEC. All information discussed on this call is as of today, October 20, 2009 and Yahoo! does not intend and undertakes no duty to update this information to reflect future events or circumstances.
On today’s call we will also discuss some non-GAAP financial measures as we talk about the company's performance. These will include operating income before depreciation, amortization and stock-based compensation expense, which will be referred to as operating cash flow; revenue excluding traffic acquisition costs, which we will refer to as revenue ex-TAC; non-GAAP net income and non-GAAP net income per share. Reconciliations of these non-GAAP measures to the GAAP measures we consider most comparable can be found on our corporate website, info.yahoo.com, under Investor Relations.
We have prepared remarks that will last about 15 minutes. Then we'll have a brief Q&A session with Tim Morse, Chief Financial Officer.
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