Yahoo Results Need Second Look

Yahoo says they are off to a great start (according to the CFO Susan Decker). But consider this in a time of great global competition. International revenues accounted for 30% of revenues and 23% of operating income. Roughly the same proportion as for comparable numbers last year. No comment as to why the domestic business is still subsidizing the international side and why the relationship is not changing. Remember Googles problem with last minute cost allocations against international income which affected the tax rate. All this glamorous international expansion needs to pay off handsomely at some point. Where will it be?