Yelp shares take a beating after revenue miss


Yelp Inc's shares took place on Thursday, when the Internet-reviewing site reported sales of the third quarter and noted that the present period was also weak.

Yelp's stock was $ 12.50, or 29 percent, $ 31 after-hours trading.

CEO Jeremy Stoppleman accused the loss of revenue from the company's new unreal advertising that aims at promoting the site to try to tie long-term contracts.

"While we move the unreal advertisements to the opening of our sales funnel, he also made our results more sensitive to short term operational issues," Stoppleman said in a new release. According to him, the company said that the expected revenues will also fall into the fourth quarter.

San Francisco-based company in the third quarter amounted to 241.1 million US dollars, which is 223 million dollars compared to the same period last year. According to Zax Investment Research, it was Wall Street's expectation of $ 245.4 million.

Yelp published a profit of 15 million dollars, or 17 cents. The profit, which was chosen at the expense of the stock market, was 43 cents per share. It was 35% expected by analysts.


Learn further:
LinkedIn reports 3Q loss but sales climbing