Separately, the company released a new version of its downloadable mobile client, Yahoo! Go 2.0. Dubbed "Gamma," the platform upgrade includes integration with Pepsi's FreeRide sweepstakes campaign.

"Overall our goal is to be the #1 mobile Internet player globally, and the #1 in mobile monetization globally," said Elizabeth Harz, VP of category strategy for Yahoo. "Both of these are very important steps in that goal."

The ads on Yahoo's mobile sites are part of a new publishing platform built to better deliver both content and marketing messages to the company's mobile users. According to Yahoo, the system can fluidly target ad sizes and creative according to the screen size and other capabilities of a given device.

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