Yahoo’s latest financial results show that revenue for the second quarter of the year fell 15%, while operating profit fell 64%.
According to a report by the The New York Times, Yahoo CEO Marissa Mayer also acknowledged that Tumblr is now only worth a third of the $1.1 billion that Yahoo paid for it in 2013.
Yahoo accepted final bids for the sale of its core business this week, with investors interested in what will be sold and at what price.
“Yahoo’s board is expected to evaluate the offers over the next week or two and decide whether to proceed with a transaction,” stated the report.
Bidders include Verizon Communications and AT&T, and private equity firms.