Yahoo Inc.'s total revenue beat analysts' revenue estimates while slightly missing estimates on an earnings-per-share basis. 
Revenue in the second quarter increased 5.2% to $1.31 billion or 9 cents per share up from $1.24 billion during the same period in 2015. Analysts had expected earnings to come in at $1.08 billion. 
It also announced a $482 million write-down on the value of Tumblr, the social media service that it acquired in 2013 for $1.1 billion. 
Total revenue rose to $1.31 billion from $1.24 billion a year earlier, though that seeming improvement was the result of a change in the way the cost of acquiring traffic is counted. After deducting fees paid to partner websites for traffic, revenue fell to $841.2 million from $1.04 billion. 
Revenue in the company's emerging businesses, which Chief Executive Officer Marissa Mayer calls Mavens - mobile, video, native and social advertising - showed some life, rising 25.7% to $504 million in the second quarter ended June 30. 
Gross search revenue for the quarter was $765 million, a 17% decrease from the same period last year. The company posted a net loss of $439.9 million, or 46 cents per share, compared with a loss of $21.6 million, or 2 cents per share, a year earlier. 
Yahoo is in the process of auctioning off its search and advertising business and is expected to choose a winner this week. The company said its board has made "great progress on strategic alternatives" but did not comment further on the auction process. 
Yahoo's shares were little changed at $37.92 in trading after the bell.