Yahoo!'s Q2 webcast and conference call is about to begin, and there are many eyes on the company right at this very second. Will Yahoo! break even this quarter or show a profit? Who knows, but we are soon to find out. In what will probably be a so-so quarter and just over a month after major executive changes, Yahoo! Inc. (NASDAQ: YHOO) is set to release its second quarter earnings tomorrow after the market closes. Earnings per share are expected by industry consensus average to be at $0.11 for the quarter, which would be identical to the year-ago quarter.

Will Yahoo! meet analyst expectations tomorrow afternoon? From most respects, this will be determined by how successful the newer Project Panama keyword bidding system has shaped up to be. This new system, which mimics Google Inc.'s (NASDAQ: GOOG) enormously successful approach, was late to Yahoo! and it remains to be seen if it can significantly boost revenues for the company. This is no easy feat, and although Yahoo! is profitable, it just isn't profitable enough -- especially when compared to Google -- and its lack of focus and vision was a prime reason for the management shakeup.

Yahoo! will survive, although it is doubtful that it will be able to take significant internet search market share from global leader Google. Yes, many companies like Yahoo! and Microsoft Corp. (NASDAQ: MSFT) are making handsome profits from internet-based advertising, but Google has the market cornered for search advertising for now. With that here we go. Remember to use the "Refresh" key on our web browser to see the minute-by-minute updates here. All times below are in EST.

It is turning into crunch time in the very definition of the phrase. With Yahoo! and Google reporting results this week, shares of both companies were subject to ratings changes by analysts in what appears to be inversely proportionate detail. This is quite an interesting viewpoint, as Yahoo! shares this week were downgraded and shares toppled a little after the company reported good -- but not stellar -- numbers this week. Google's quarterly numbers, once again, blew past most expectations. Google shares gained 7% just this morning after reporting results after market close on Thursday. Just go here to look at YHOO and GOOG shares over the last week and see the opposite arrows come to life.

What is going on, you may ask? Well, it looks like Yahoo! is going to sit on the "adequate" train as its competitors beat up all over it, while Google just can't stay still every quarter as analysts and market watchers continue to be giddy about almost every single detail Google embellishes on -- even though some of its properties are just taking their sweet time building an audience and turning into monetization machines.

Google seems to have figured out that not every product needs to be an instant home run, although I admit that I've expected more success from some of Google's web products in terms of customer adoption. As long as Google continues to put up solid quarterly numbers, the market doesn't seem to care , while questions get half-baked and vague answers from the Google brass.

Yahoo!, on the other hand, gets raked over the coals for every possible perceived customer uptake issue it has -- because it's not the leader in Internet search where Google reaps so much of its revenue. This puts pressure on Yahoo! to lead in as many areas as it can outside Internet search -- and the market pounces like an 800 pound gorilla when Yahoo! makes a misstep.