Yahoo announced their first quarter earnings for 2009 and it was pretty bad. Here are the highlights:

Plus, Yahoo will be cutting 5% of the staff, that is an additional 600-700 employees from the layoffs they had earlier this year and last year. Sounds like Yahoo is bleeding to me.

But the thing is, Yahoo beat Wall Street Estimates and the stock is up a bit in pre-market conditions.

In any event, you can read more about this at Search Engine Land or on Techmeme.

Forum discussion at WebmasterWorld.