By: David A. Utter | Ssource: webpronews.com

The in-development advertising system meant to replace Yahoo’s current product arrived as part of the company’s third quarter financial announcements.

Yahoo had stated at one point that the new advertising solution, called Project Panama, would be deployed when and only when it was ready to go. Until today, that looked like a timeframe in early 2007.

The schedule moved up dramatically, as Yahoo disclosed it would roll out Panama now:

"While we are tremendously excited about many things happening at Yahoo!, we are not satisfied with our third quarter financial performance. We continued to grow and believe that we outperformed the graphical market but not at a rate that met our expectations," said Terry Semel, chairman and CEO of Yahoo!.

"Looking forward, we are excited about the roll-out of our new Project Panama advertising platform. In addition, we plan to invest, innovate and secure leading positions in the areas where we see the biggest growth opportunities."

Yahoo has lagged behind Google in search advertising revenue, a gap that has widened from 2005 to 2006. Part of that has been blamed on Yahoo’s contextual ad system not performing as well as Google’s when it came to matching advertising to search queries performed by people.

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