Yelp Shares Fall 10% on Weak Outlook

Yelp Shares Fall 10% on Weak Outlook Feb. 16, 2024, 10:35 a.m., readers: 13

Yelp (NYSE:YELP) disclosed its financial performance for the fourth quarter, delivering a mix of results with revenue slightly beating analyst predictions but earnings per share (EPS) not meeting expectations. The company reported a Q4 EPS of $0.37, narrowly missing the analyst forecast of $0.38. Nonetheless, its quarterly revenue amounted to $342.38 million, slightly above the anticipated $341.32 million. Following the release, Yelp's stock experienced a 13% drop, largely attributed to a less optimistic revenue forecast for 2024 than investors had hoped for. The company expects net revenue to range from $1.42 billion to $1.44 billion, which is below the analyst consensus of $1.46 billion. For the forthcoming year, Yelp is projecting its adjusted EBITDA to be between $315 million and $335 million.