We’ll cover the numbers from Yahoo’s Q307 here in a sec but the real focus today (aside from any last-gasp surprises) is on what CEO Jerry Yang and his senior execs have to say, which, judging from the earnings release, could be a problem unless someone figures out how to speak in plain English by the time the conference call starts.  Example from Yang, who has a report to make on the so-called 100-day review: “We are executing against our transformation and are excited about playing a leadership role in the large and growing Internet market.” (Anyone have a buzzword bingo card handy?)

As for earnings, no surprises so far. Yahoo’s net income didn’t budge, holding at 11 cents per share year over year on revenues of $1.768 billion, up 12 percent over $1.58 billion in the same quarter last year. Operating income dropped 26 percent to $150 million, compared with $202 million in Q306.

—Marketing services revenue from Yahoo’s own properties were $922 million, up 24 percent over the previous year. But affiliated revenues slipped 1 percent to $622 million. Fees revenue rose 7 percent to $224 million from $210 million last year.

—U.S. revenues were up 13 percent to $1.2 billion while international revenues rose 9 percent to $573 million.

—User stats: Yahoo (NSDQ: YHOO) ended the quarter with 477 million uniques, up 14 percent year-over-year but only 3 percent from Q207.  The number of active registered users rose 15 percent to 215 million, up just 1 percent over Q307. The number of fee-paying customers rose 21 percent year-over-year to 15.5 million, up 11 percent from the previous quarter.

More to come.

Earnings release | Slides | Financial info | Webcast (5 p.m. eastern)