Although Yahoo reported decent earnings in its Q2 2016 financial call yesterday, the embattled company reported yet another write down on its $1.1 billion Tumblr acquisition. Yahoo is in the process of soliciting bids for its core businesses as well as downsizing significantly, but the company still didn’t have anything to share about a potential buyer on its call, with the third and final round for bids due on Monday.

Yahoo said it had lowered its projections for Tumblr’s performance, writing down $482 million in “impairment charges.” Last quarter, Yahoo similarly took a $230 million write down on the social media platform. CNN Money notes that Yahoo has now written down about half the value of its original investment in Tumblr, “rendering [CEO Marissa] Mayer's biggest acquisition to date effectively worthless.”

When Yahoo acquired Tumblr in 2013, the company put out a press release to placate angry and worried Tumblr users, promising “not to screw it up.”

"Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business," Yahoo wrote at the time. The company said it hoped to use its personalization and search technology to help Tumblr users find other bloggers, driving profit through engagement.

Alas, Mayer was not able to turn Tumblr into the profit-driving machine that Yahoo had hoped for.

Still, it wasn’t all bad news for Yahoo. In fact, it was able to report $1.31 billion in revenue, up from $1.24 billion a year ago and up significantly from the $1.08 billion that Venture Beat says Wall Street analysts were expecting. The company reported earnings per share at 9¢, although Wall Street had expected 10¢.