Verizon among leading bidders for Yahoo's core business

Yahoo is in the process of auctioning off its search and advertising business.

Leading bidders for Yahoo Inc's core business are Verizon Communications Inc, Quicken Loans Inc founder Dan Gilbert and Vector Capital Management, Bloomberg reported on Tuesday, citing people familiar with the matter.

Yahoo, which is in the process of auctioning off its search and advertising business, said on Monday its board had made "great progress on strategic alternatives" but did not comment further on the auction process.

The company also reported quarterly earnings that fell short of Wall Street expectations in what may be its last financial report before it sells its core business.

Yahoo declined to comment on the article.