Yahoo CEO Marissa Mayer said that the company did not have updates to share about the sale of of its Alibaba investment and its core business. Last quarter, a report from the Wall Street Journal said that Verizon Communications was leading the pack for potential suitors for buying the company in the first round of bids. Yahoo, however, said its board has made “great progress on strategic alternatives” but did not comment further on the auction process. Others making a bid for Yahoo include Bain Capital, TPG and Advent International. Bidders who dropped out of the first round include Google’s parent Alphabet, AT&T, Comcast and InterActive Corp. The Internet and media company reported revenues of $1.3 billion for the quarter ended June 30 (Q2 2016) up 5.22% from $1.24 billion in the same quarter last year. Losses, however increased to $440 million compared to $22 million in the same quarter last year. In the preceding quarter, Yahoo had posted a net loss $99 million. The losses were attributed to $466 million goodwill impairment from its acquisition of Tumblr (it had paid $1 billion for the company) and loss from operations ($490 million). Other highlights from the earnings call - Yahoo introduced a new ad format called TILEs "with dynamic and interactive features in native video and display." - It also launched a content marketing studio called Yahoo Story tellers for native advertising. It will use Yahoo's editorial expertise, extensive data and Gemini native to create engaging premium content. - Yahoo sold real estate in Santa…
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