Yahoo doesn't shock anybody with disappointing earnings report

A positive thing to say for Yahoo: it has become consistent.

The downside is that it has been consistently disappointing.

Yahoo missed its profit projections in the second quarter of 2016, surprising just about nobody. The company's stock barely budged in after-hours trading.

The company's revenue did surpass expectations at $1.3 billion, but it came at a cost. Its traffic acquisition costs more than doubled, taking out a big chunk of that income.

CEO Marissa Mayer pointed to Yahoo's lower costs as a bright spot.

"With the lowest cost structure and headcount in a decade, we continue to make solid progress against our 2016 plan," Mayer said in a press release.

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Yahoo's second-quarter earnings come at an awkward time. The company is in the middle of a bidding process that could end with the bulk of Yahoo being sold to one of a variety of prospective buyers, including Verizon and some private equity firms.

The lackluster earnings probably won't affect the bidding process or come as much of a surprise to those bidders, since they've had access to the company's books as part of the sale process.

The company could be sold off in the next couple weeks, as final bids are reportedly being mulled. That means this could be the public's last look at Yahoo's financials.

Part of that look included another hit to the value of Tumblr, the biggest acquisition of Mayer during her time atop the company.

Mayer is widely expected to leave the company once it is sold.

Yahoo said it now valued Tumblr at $482 million less than before, which, according to the company's math, makes Tumblr worth less than $300 million.

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