Yahoo! Inc. (NASDAQ:YHOO) has reported their third quarter financials today. Yahoo!’s revenue excluding traffic acquisition costs was $1.072 billion for the third quarter of 2011. This is a 5% decrease during the same time last year. Yahoo! beat Wall Street analyst expectations of $1.09 billion.
The net income for the quarter was $293 million, which is down 26% from the same quarter in 2010. Income from operations had decreased 6% to $177 million in Q3 2011. Net income from operations in Q3 2010 was $189 million. The decrease was because of the search agreement with Microsoft Corporation (NASDAQ:MSFT).