Yahoo just reported its second quarter earnings after the bell Monday afternoon.It was mostly an in-line quarter with a slight miss on earnings per share. It beat revenue estimates by a small margin.Yahoo stock remains largely flat in after hour trading.Yahoo said that its board has made "great progress on strategic alternatives but did not provide any details on the current auction to sell the company.Here are the most important numbers:Q2 adjusted earnings per share (EPS):$0.09 per share vs $0.10 per share expectedQ2 Revenue:$1.31 billion vs. $1.08 billion expected (up 5% year-over-year)Q2 Revenue ex-TAC: $841 million vs.$810 million-$850 million expectedYahoo pointed out that without the change in accounting that went into effect this quarter, its revenue would have been $1.06 billion, down 15% year-over-year.Mavens revenue, short for mobile, video, native, and social, came in at $504 million, up 25% from last year. That's a huge bounce back from the previous quarter when Mavens growth came to a halt at around 7%. But excluding the change in accounting, Mavens revenue would have dropped 4% to $385 million.Growing Mavens revenue has been one of the focal points of Mayer's Yahoo since she took over the company in 2012.Tumblr, the social network Yahoo bought for nearly $1 billion, saw another big write down. Yahoo reported that it will be writing off $395 million in impairment charges, and $87 million in intangible impiarments, for a total of $482 million write off. In February, Yahoo reported a write off of $230 million to Tumblr's goodwill value.Both search and display revenue saw declines, dropping 13% and 7% year-over-year, respectively. Search revenue was $711 million for the quarter, while display revenue was $470 million.Yahoo also reduced its headcount by 2,100 employees compared to the same quarter of last year, to 8,800 in total. Yahoo previously announced that it would cut 15% of its workforce this year.For the third quarter, Yahoo expects revenue in the range of $1.275 billion to $1.325 billion, and ex-TAC revenue in the range of $840 million to $880 million.We'll be covering the earnings results as they come out, so hit refresh or click here to view the latest.At this point of course, most investors are focused on the potential sale of Yahoo, as opposed to the ongoing challenges in its business. The company is reported to be accepting the final rounds of bids from interested buyers of its coreinternet business on Monday afternoon.It's unclear if the company will disclose any details around the bidsduring the earnings call. Companies like Verizon, AT&T, and a number of private equity firms are reported to be in the race to buy Yahoo's core assets. There's also a chance that the company might not get sold at all, if the bidding prices are too low.During last month's annual shareholder meeting, Mayer said the companywas "continuing to make great progress" in the sales process and that she was "heartened by the interest in Yahoo." SEE ALSO:The exec who lost his job to Yahoo CEO Marissa Mayer slams the company with a classic 'Rocky' quoteJoin the conversation about this storyNOW WATCH: How to use Facebook's awesome new 360-degree photo feature
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