Yahoo (NSDQ: YHOO) posted a loss for Q4—and while the company’s performance met most analysts’ expectations, the international numbers left less to be optimistic about, particularly with search:

SEE ALSO: Earnings: One-Time Charges, Ad Downturn Help Kick Off Yahoo’s Bartz Era With a Loss

—Revenues down: International revenues came in at $468 million, down 10 percent from $519 million in Q407. Yahoo also write down $488 million in goodwill for its international segment.

—Currency issues dragged down search performance: International search revenues were flat on a “constant currency” basis; U.S. search revenues grew about 17 percent. During the earnings call, CFO Blake Jorgensen said the slump was mainly due to currency fluctuations—particularly “issues with the euro” and the “massive devaluation of the [Korean] won.”

And though new CEO Carol Bartz didn’t rule out a future deal with Microsoft (NSDQ: MSFT), she did manage to get in a subtle dig at the rival when she defended Yahoo’s search product: “Whether we keep it or sell it, search is important to this company and it’s important to build it up ... We’ve stabilized query results. And people often forget it remains three times the size of the number three player.”