Yahoo has posted a 19% drop in second-quarter revenue and a loss of $$482mm, up from $22m in 2015. The company also wrote down the value of blogging site Tumblr, which it bought for $1.1bn in 2013, by 440. Yahoo began soliciting offers for the business five months ago and will fetch between $2bn and $4bn, according to analysts. The company's stake in Yahoo Japan and Chinese internet giant Alibaba both remain lucrative.
Yahoo has posted a 19% drop in second-quarter revenue and a loss of $440m, up from $22m in 2015. The company also wrote down the value of blogging site Tumblr, which it bought for $1.1bn in 2013, by $482m. Yahoo began soliciting offers for the business five months ago and will fetch between $2bn and $4bn, according to analysts. The company's stake in Yahoo Japan and Chinese internet giant Alibaba both remain lucrative.