Yahoo!: Cash Flow Not King, At End of Year

Yahoo's earnings are out -- and its cash flow took a big hit in the fourth quarter.

According to the company:

• Cash flow from operating activities for the fourth quarter of 2008 was $321 million, a 48 percent decrease compared to $622 million for the same period of 2007.
• Free cash flow for the fourth quarter of 2008 was $219 million, a 34 percent decrease compared to $330 million for the same period of 2007.

Which meant that cash flow for the entire year ultimately fell.

• Cash flow from operating activities for 2008 was $1,880 million, a 2 percent decrease compared to $1,919 million for 2007.
• Free cash flow for 2008 was $1,312 million, a 2 percent decrease compared to $1,337 million for 2007.