Yelp is crashing after earnings miss
Apr 30, 2015, 01:43 IST
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On Wednesday after the market close, Yelp reported a first quarter loss per share of 2 cents, missing expectations for a 1 cent loss, on revenue that totaled $118.5 million, short of expectations for revenue of $119.8 million, according to estimates from Bloomberg.
Shares were down as much as 13% in after hours trade following the results.
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The company's outlook also disappointed, with Yelp saying that revenue in the second quarter is expected to total $131-$134 million, below expectations for $138.4 million.
The company's full-year revenue outlook was also a little light, coming in at $574-$579 million against expectations for $579.2 million.
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Going into Wednesday's close, Yelp shares were down about 11% year-to-date.