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To: Keith J who wrote (4470)	12/14/1997 10:07:00 PM
From: fut_trade	Read Replies (1) \| Respond to of 27307

<<From the quarterly, shares outstanding as of: 3 months ending 9/30/97 - 50,096 3 months ending 9/30/96 - 39,756 9 months ending 9/30/97 - 41,742 That's a lot of shares issued recently. Yes, some are for acquisitions, but I have seen nothing of this magnitude, and as I previously indicated, I believe this is BEFORE the 1.65 million shares issued/reserved for the email acquisition. Cause? I don't know, perhaps a large amount of options/warrants exercised. I really don't have any info to shed any light on this.>> The 50,096 number includes common share equivalents. I have not looked at this in detail. <<Why would institutional holdings not be considered part of the float? I see no reason for this. If a mutual fund picks up shares off the open market, they stay in the float. Geez, if institutional holdings weren't considered part of the float, most large, old, established companies would have small floats compared to shares outstanding.>> Actually, how the float is calculated is something I was trying to figure out. The only way I could come up with a number close to 6.5M reported my market guide was to subtract the number held by institutions. Perhaps a number closer to 12 M is more appropriate. At any rate, my main concern was to arrive at the number of shortable shares. <<Oh, and usually unexercised options are normally a footnote (as shares reserved for issuance), and not included in the outstanding shares total. Only when they are exercised do the become part of the balance sheet.>> There is a footnote on the balance sheet related to the number 50M for the outstanding shares. Peter

To: Keith J who wrote (4470)	12/14/1997 10:27:00 PM
From: fut_trade	Respond to of 27307

This is from the latest 10Q. It explains the 50M number. <PAGE> EXHIBIT 11 YAHOO! INC. Computation of Net Income (Loss) per Share <TABLE> <CAPTION> Three Months Ended Nine Months Ended --------------------------------- -------------------------------- September 30, September 30, September 30, September 30, 1997 1996 1997 1996 --------------- ---------------- --------------- --------------- <S> <C> <C> <C> <C> Net income (loss) $1,637,000 ($1,145,000) ($18,697,000) ($2,430,000) --------------- ---------------- --------------- --------------- --------------- ---------------- --------------- --------------- Weighted average number of Common 42,749,000 39,756,000 41,742,000 36,140,000(a) shares used in computation: Common stock options and warrants using the modified treasury method 7,347,000 - - - --------------- ---------------- --------------- --------------- Total 50,096,000 39,756,000 41,742,000 36,140,000 --------------- ---------------- --------------- --------------- --------------- ---------------- --------------- --------------- Net income (loss) per common and common equivalent share $0.03 ($0.03) ($0.45) ($0.07) --------------- ---------------- --------------- --------------- --------------- ---------------- --------------- --------------- </TABLE> (a) Common equivalent shares are excluded from the computation as their effect is antidilutive, except that for the nine month period ended September 30, 1996, pursuant to the Securities and Exchange Commission Staff Accounting Bulletin, the convertible preferred stock (using the if-converted method) and common equivalent shares (using the treasury stock method and the public offering price) issued subsequent to March 5, 1995 through April 11, 1996 have been included in the computation as if they were outstanding for the entire period. </TEXT>