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Yahoo reports another big loss, writes down Tumblr value

Yahoo's latest earnings report leaves no doubt the internet company is stuck in a downward spiral.

The company managed to beat Wall Street's limited expectations for revenue in the April-June quarter. But after subtracting commissions paid to its partners, Yahoo said its revenue fell 19 percent from a year earlier, while its loss widened to $440 million.

Yahoo also reported Monday that it's writing down $482 million in charges related to the declining value of Tumblr, the social-blogging service that Yahoo acquired for $1.1 billion in 2013. Combined with an earlier write-down of $230 million, that indicates Tumblr's value has plunged by almost two-thirds.

What remains...

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