Yahoo!'s latest financial results have been published (PDF format) for the third quarter of 2007 and are starting to show growth in their search advertising revenue since the launch of the upgraded 'Panama' service. Overall, advertisers are shown to have increased their PPC spending with Yahoo by 7.8% during the period compared to the previous quarter.

This will be a promising sign for Yahoo! as advertisers adjust to the new system. However, the search service still needs to gain considerable ground against the dominance of Google, particularly in markets outside of the US.