Yahoo Tuesday released a three-year financial plan that said the company will roughly double its operating cash flow from US$1.9 billion to $3.7 billion and generate $8.8 billion in revenue, excluding costs, in 2010.
Yahoo first presented the plan to its board of directors in December, before the company received Microsoft 's unsolicited $44.6 billion takeover offer , according to a statement .
Yahoo said its investor presentation supports the board's unanimous decision to reject Microsoft's offer because it substantially undervalues the company.
In the plan, Yahoo also reaffirmed its outlook for the first quarter of 2008 and for the full year, saying it expected an additional $1.9 billion in revenue from online/display advertising as well as an additional $1.4 billion in added search revenue.
"Yahoo is positioned for accelerated financial growth - we have a powerful consumer brand, a huge global audience and a highly profitable operating model," said Jerry Yang , the company's co-founder and CEO, in the statement.
The board and the company's management said they will continue to work to maximize shareholder value.
"Yahoo's investor presentation also reiterates its principal strategies, which are to enhance an already strong position as a leading starting point for users of the Internet and to be a 'must buy' proposition for the most online advertisers," the company said.
Yahoo said it is developing a new ad platform designed to simplify online advertising buying and selling as well as making improvements to its search advertising platform.
In addition to Yahoo's projected operating results over the next three years, the company said its strategic assets in Asia, its strong cash position, and its leadership positions in mobile Internet and emerging markets, combine to create "significant equity value."
Reprinted with permission from Computerworld. Story copyright 2008 Computerworld Inc. All rights reserved.
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