As Microsoft (NSDQ: MSFT) waits for a response from Yahoo (NSDQ: YHOO) to its $44.6 billion buyout offer, the analysis on the two companies continues to flow freely. For a closer look on the mobile front, Seattle-based M:Metrics created a series of spreadsheets this week on the two company’s performance in the mobile space. In the match-up against Google (NSDQ: GOOG), the pair would clearly dominate when it came to messaging, but would still struggle in search. (Click on the charts for a full-sized version.)

Messaging (IM and email): For the three months ended in December, Yahoo was the dominate leader in with nearly 11 million U.S. subscribers accessing their accounts from a phone; Hotmail/Windows Live claimed 5.5 million subscribers. Together the two would easily outrank the 5.4 million subscribers using Google’s Gmail.

Browser (Search, News/Info and Weather): For the three months ended in December, the clear leader was Google with 7.7 million U.S. subscribers using their services from a phone. Yahoo came in second with 4.4 million subscribers, and MSN/Live only had 1.2 million. Yahoo and MSN/Live together still would fall behind Google’s search dominance, which grew an amazing 62 percent year-over-year.

• MSFT-YHOO Roundup: Mobile Implications Under The Microscope