SUNNYVALE, Calif. - April 10, 2002 - Yahoo! Inc. today reported results for the fiscal first quarter ended March 31, 2002. Net revenues for the first quarter totaled $192.7 million compared to net revenues of $180.2 million for the first quarter ended March 31, 2001. EBITDA (earnings before interest, taxes, depreciation, amortization and stock compensation expense) for the first quarter 2002 was $24.4 million, or 13% of revenues, compared to EBITDA for the first quarter 2001 of $0.9 million.

Yahoo! also reported income on a GAAP (Generally Accepted Accounting Principles) basis, before the cumulative effect of the accounting change for the implementation of Financial Accounting Standard ("FAS") 142, totaling $10.5 million or $0.02 per share diluted, compared to a net loss of $11.5 million or $0.02 per share diluted for the quarter ended March 31, 2001. FAS 142, which the company adopted January 1, 2002, requires companies to assess the goodwill recorded from previous acquisitions, and as necessary, record a one-time impairment charge that does not affect cash or the company's operations. Including the non-cash charge of $64.1 million recorded in the quarter for the effect of implementing FAS 142, Yahoo! reported a net loss for the fiscal first quarter of $53.6 million or $0.09 per share.

"We have a world-class management team in place, who have lead the charge in executing against Yahoo!'s business plan. We posted solid results this quarter due to the transformation of Yahoo!'s business model. Our quarterly performance demonstrates continued momentum as we move forward in executing on our strategic objectives. Additionally, we experienced significant growth in our key audience metrics and demonstrated the considerable depth and breadth of the Yahoo! network. As we progress through the year, we are well positioned to maintain our growth and to achieve our goal of more than doubling EBITDA profitability in 2002 from 2001 levels," said Terry Semel, chairman and chief executive officer, Yahoo!.

Business Outlook
"Our first quarter results show momentum and progress toward our goal to maximize long-term free cash flow. This quarter also demonstrated the growing success of our monetization strategy, to draw increased value from our enormous consumer base and find new ways to drive financial value," said Susan Decker, chief financial officer, Yahoo!.

"We have upwardly revised our full year outlook for revenue and EBITDA to reflect our performance in the quarter, the acquisition of HotJobs and several other factors. While we are basing our outlook on a continuation of current economic conditions, we nevertheless anticipate strong, profitable growth in 2002, considering the progress we have demonstrated against the execution of our business plan," continued Decker.

The following information is based on current information as of April 10, 2002 and includes the effects of the recent acquisition of HotJobs.com, Ltd.

The company expects revenues for the second quarter 2002 to be between $205 and $225 million, and between $870 and $910 million for the full year 2002. EBITDA (earnings before interest, taxes, depreciation, amortization and stock compensation expense) is expected to be between $23 and $33 million for the second quarter 2002 and between $105 and $130 million for the full year 2002.

Capital expenditures are expected to be between $10 and $12 million for the second quarter 2002, and to be between $40 and $50 million for the full year 2002. Depreciation is expected to be approximately $21 million in the second quarter 2002 and $85 million for the full year 2002.

The business outlook for the company as of today will be available on the company's Investor Relations Web site throughout the current quarter. It is currently expected the full business outlook will not be updated until the release of Yahoo!'s next quarterly earnings announcement; however, Yahoo! may update the full business outlook or any portion thereof at any time for any reason.

Leading Global Audience
Yahoo!'s strong consumer metrics in the first quarter continue to underscore the company's leadership position among online consumers. In February, Yahoo!'s global network was ranked the world's most trafficked Internet destination, a distinction held for seven continuous quarters, and Yahoo! continues to be the worldwide leader in terms of unique users, reach, and total time spent (Nielsen//NetRatings, February 2002). Yahoo!'s global audience grew to 237 million unique users, compared to 192 million in the first quarter of 2001. In addition, a record 98 million active registered members logged onto Yahoo!'s global network during March 2002, compared to 67 million in the first quarter of 2001, a positive indication that Yahoo!'s efforts to build deeper relationships with its consumers are paying off.

Quarterly Conference Call
Yahoo! will host a conference call today to discuss first quarter results at 5:00 p.m. Eastern Time today. A live Webcast of the conference call can be accessed at http://webevents.broadcast.com/yahoo/041002/. In addition, an archive of the call can be accessed through the "Conference Calls" area of the company's Investor Relations Web site at http://www.yahoo.com/info/investor, and a replay will be available for 48 hours following the conference call by calling 800-633-8284, reservation number: 20087965.

About Yahoo!
Yahoo! Inc. is a leading provider of comprehensive online products and services to consumers and businesses worldwide. Yahoo! reaches more than 237 million individuals worldwide each month, and is the No. 1 Internet brand globally. Headquartered in Sunnyvale, Calif., Yahoo!'s global network includes 25 World properties and is available in 13 languages.

This press release and its attachments contain forward-looking statements that involve risks and uncertainties concerning Yahoo!'s expected financial performance (as described without limitation in the Business Outlook section and quotations from management in this press release), as well as Yahoo!'s strategic and operational plans. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the slower spending environment for advertising sales; the actual increases in demand by customers for Yahoo!'s premium and enterprise services; the ability to successfully change the customer mix among Yahoo!'s advertising customers; general economic conditions (including the effects of events related to the terrorist attacks on the United States on Sept. 11, 2001); risks related to the integration of recent acquisitions; the ability to adjust to changes in personnel, including management changes; and the dependence on third parties for technology, content and distribution. All information set forth in this release and its attachments is as of April 10, 2002, and Yahoo! undertakes no duty to update this information. More information about potential factors that could affect the company's business and financial results is included in the company's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2001, including (without limitation) under the captions, "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," which are on file with the Securities and Exchange Commission (the "SEC") and available at the SEC's website at www.sec.gov. Additional information will also be set forth in those sections in Yahoo!'s Quarterly Report on Form 10-Q for the three-month period ended March 31, 2002, which will be filed with the SEC in the near future.

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Yahoo! and the Yahoo! logos are trademarks and/or registered trademarks of
Yahoo! Inc. All other names are trademarks and/or registered trademarks of their respective owners.

Media Relations Contacts:
Diana Lee, Yahoo! Inc., (408) 349-6501, dianalee@yahoo-inc.com
Nicole Waddell, Fleishman-Hillard, (415) 356-1037, waddelln@fleishman.com

Investor Relations Contact:
Cathy Larocca, Yahoo! Inc., (408) 349-5188, cathy@yahoo-inc.com