Analysts were expecting Yahoo’s search revenues to hold up in Q4, despite the market’s implosion, and they did: 

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—Owned & Operated search revenue came in at $436 million, up 11 percent year-over-year, but down slightly from $438 million the previous quarter.
—Query volume was up 10 percent; revenue per search (RPS) grew in the “mid-single digits,” though the company didn’t disclose the exact number.

—On beating Microsoft right now: Yahoo (NSDQ: YHOO) is a distant second to Google (NSDQ: GOOG) in terms of search market share—but it’s still ahead of Microsoft (NSDQ: MSFT). “We’ve stabilized query results. And people often forget it remains three times the size of the number three player,” Bartz said. She said all options were still on the table, but that Yahoo would continue to work on search quality and innovation: “Whether we keep it or sell it, search is important to this company and it’s important to build it up.”

More after the jump...