Yelp Inc. Beats Wall Street Consensus Q4 EPS Estimates; Revenues In Line
Written by StockNews.com
Yelp Inc. (NYSE:YELP ) posted market-beating fourth quarter earnings results on Thursday (Feb. 9, 2017 | 4:08pm) , but its first quarter revenue outlook badly missed, sending its shares plunging in aftermarket trading.
The San Francisco-based business reviews platform reported Q4 EPS of $0.27, which was $0.01 better than the Wall Street consensus estimate of $0.26. Revenues rose 26.7% from last year to $194.8 million, also topping analysts’ $194.47 view.
Looking ahead, Yelp forecast Q1 revenues ranging from $195 to $199 million, below analysts’ $204.52 million estimate.
For the full year 2017, Yelp sees revenues between $880 and $900 million, in-line with Wall Street’s current $895.73 million view. It also sees adjusted EBITDA of $150 million to $165 million.
The company commented via press release:
“We had an outstanding year, growing local revenue by 39%,” said Jeremy Stoppelman, Yelp’s co-founder and chief executive officer. “I am extremely proud of how Yelp has become deeply integrated into consumers’ daily habits and increasingly essential to local business owners. In 2017, we look forward to increasing engagement on the app, expanding transactions and broadening our sales strategy.”
Yelp Inc. shares fell $3.24 (-7.81%) to $38.25 in after-hours trading Thursday. Year-to-date, YELP had gained 8.81% prior to today’s report, versus a 3.16% rise in the benchmark S&P 500 index during the same period.
YELP currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #12 of 44 stocks in the Internet category.
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