The company reportedly fixed some of its short-term problems -- but it should be interesting to see if Yahoo can still compete with Google, as most of the company's long-term problems remain.

Yahoo has been under constant pressure to make a serious change -- which happened when CEO Jerry Yang was ousted in favor of new CEO Carol Bartz.  Under Yang's control, Microsoft, led by CEO Steve Ballmer, couldn't take over the company, with Yang requesting more money.

Although the acquisition never took place, independent analysts and some Yahoo shareholders blamed Yang.  The company's operating margins and revenue have continued a slide, but officials now hope to boost margins by 20% over the next three years.

Yahoo will still rely on search services, but likely will attempt to expand further if it wants to compete with Google.  Despite a failure to complete an acquisition, Microsoft with its Bing search engine will work with Yahoo on searches, hoping to finally piece together the winning formula to topple Google.

A combination of search, news, e-mail, instant messaging and similar services will keep the company relevant, with Yahoo hoping to generate more revenue by displaying better search ads next to search results.