Yelp Shares Fall 13% After Profit And Sales Miss Estimates

Yelp shares dropped 13% after the company reported its first-quarter earnings. The company reported a net loss of $1.3 million, or 2 cents per share, compared to a 4 cents per share loss in the prior year period. Yelp's adj. EPS was 10 cents per share, which missed FactSet consensus of 16 cents. Yelp also missed on first-quarter revenue, reporting $118 million against FactSet consensus of $120 million, although revenue was up 55% over the previous year. The company's revenue outlook for the second quarter is $131 million to $134 million. FactSet consensus for the second quarter is $138 million.