Yelp Shares Gain As Company's Revenue Rises, Outlook Tops Expectations
Yelp Inc. said Wednesday it lost $8.1 million, or 11 cents a share, in the third quarter, reversing a gain of $3.6 million, or 5 cents a share, in the year-ago quarter. Adjusted for one-time items, Yelp earned $2.7 million, or 3 cents a share, in the quarter. Revenue rose 40% to $143.6 in the quarter, the online review company said. Analysts polled by FactSet had expected a loss of 3 cents a share on sales of $141.3 million in the quarter. Reviews grew 35% year-on-year to about 90 million, the San Francisco company said. Yelp forecast revenue between $149.5 million to $154.5 million in the fourth quarter, and revenue between $545.5 million and $551.5 million for full-year 2015, both above Wall Street expectations. Shares of Yelp rose 7% in after-hours trading on Wednesday, after ending the regular session down 3.6%.
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