Don’t underestimate Yahoo and its power to overcome obstacles, Jerry Young said after Microsoft walked out from the deal. The first quarter results, which he said was one of the most exciting quarters in the company’s history, proved they have the strategy and the team to make their investments pay off.

The Wall Street Journal also reported that in a letter sent to Yahoo employees, Yang asked them to put all rumors and speculations aside and focus on the company’s business and mission, to enhance a leadership position in online advertising.

In his blog to Yahoo users, Yang highlighted the fact that they have it all: the fantastic team, the right strategy and the motivation to pursue strategic opportunities that can ensure their long-time success, especially now, that they have all eyes on them.

This experience has changed them into what Yang called a “stronger, more focused” company, with “an even greater sense of purpose.” He also said that the company’s determination to put all aside and continue is a great proof of determination and capability to overcome challenging times.

The Internet world gets more and more competitive, and what counts the most is to stay focused on your goals, Yang said, adding that executing on their strategic plan is in fact what matters the most at this point, following the three months of negotiations.

Yang also mentioned that over these past months, there’s been a lot of misinformation and nonsense reported, when in fact Yahoo is open to a transaction on terms that fully recognize the value of Yahoo and is in the best interest of the stockholders.

Earlier today, Yahoo Chairman Roy Bostock responded to billionaire investor Carl Icahn’s attempts to push Yahoo into Microsoft’s arms as a misunderstanding of all the facts about the negotiations, saying that it is not in the best interests of Yahoo to allow him and his 10 candidates to take control of the company, adding that Microsoft already publicly stated they have moved on, and there is practically no proposition on the table to take into consideration at the moment.