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Yelp Posts Q1 Earnings Beat, Stock Plummets on Weak Guidance
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Yelp Inc. (YELP - Free Report) just released its first quarter 2017 financial results, posting a loss of 6 cents per share and revenues of $197.3 million.
Currently, Yelp is a Zacks Rank #3 (Hold), but this ranking could change based on today’s results. The stock has crashed 28.24% to $24.90 per share in after-hours trading thanks to the company’s relatively weak guidance.
Yelp:
Beat earnings estimates. The company posting a loss of $0.06 per share, beating the Zacks Consensus Estimate of a loss of $0.08 per share.
Missed revenue estimates. The company saw revenue figures of $197.3 million, missing our consensus estimate of $198 million.
Yelp’s first quarter net revenue grew 24% year-over-year. Advertising revenue totaled $177.0 million, also a 24% gain from last year. Transactions revenue was up 35% to $18.1 million.
Cumulative reviews gained 26% to 127 million, while App Unique Devices was up 22% to 26 million monthly average users.
“We had a solid first quarter, growing revenue by 24% and accelerating traffic growth across the app, desktop and mobile website,” said CEO Jeremy Stoppelman. “In addition, engagement per unique visitor continues to grow, accelerating on the app where we derive the majority of our activity. Our recent acquisitions of Nowait and Turnstyle introduce more ways for consumers to interact through Yelp, while also enhancing our ability to deliver value to business owners.”
Yelp now expects second-quarter net revenue between $202 million and $206 million. This is well below our current consensus estimate of $215 million. Full-year revenue is expected to be between $850 and $865 million, which is short of our consensus estimate of $888 million.
Here’s a graph that looks at Yelp’s Price, Consensus and EPS Surprise history:
Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California.
Check back later for our full analysis on Yelp’s earnings report!
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
Image: Bigstock
Yelp Posts Q1 Earnings Beat, Stock Plummets on Weak Guidance
Yelp Inc. (YELP - Free Report) just released its first quarter 2017 financial results, posting a loss of 6 cents per share and revenues of $197.3 million.
Currently, Yelp is a Zacks Rank #3 (Hold), but this ranking could change based on today’s results. The stock has crashed 28.24% to $24.90 per share in after-hours trading thanks to the company’s relatively weak guidance.
Yelp:
Beat earnings estimates. The company posting a loss of $0.06 per share, beating the Zacks Consensus Estimate of a loss of $0.08 per share.
Missed revenue estimates. The company saw revenue figures of $197.3 million, missing our consensus estimate of $198 million.
Yelp’s first quarter net revenue grew 24% year-over-year. Advertising revenue totaled $177.0 million, also a 24% gain from last year. Transactions revenue was up 35% to $18.1 million.
Cumulative reviews gained 26% to 127 million, while App Unique Devices was up 22% to 26 million monthly average users.
“We had a solid first quarter, growing revenue by 24% and accelerating traffic growth across the app, desktop and mobile website,” said CEO Jeremy Stoppelman. “In addition, engagement per unique visitor continues to grow, accelerating on the app where we derive the majority of our activity. Our recent acquisitions of Nowait and Turnstyle introduce more ways for consumers to interact through Yelp, while also enhancing our ability to deliver value to business owners.”
Yelp now expects second-quarter net revenue between $202 million and $206 million. This is well below our current consensus estimate of $215 million. Full-year revenue is expected to be between $850 and $865 million, which is short of our consensus estimate of $888 million.
Here’s a graph that looks at Yelp’s Price, Consensus and EPS Surprise history:
Yelp Inc. Price, Consensus and EPS Surprise
Yelp Inc. Price, Consensus and EPS Surprise | Yelp Inc. Quote
Yelp, Inc. is a website engaged in providing information through online community offering social networking. It covers restaurants, shopping, nightlife, financial services, health and a variety of services. The company serves customers in the United States, Canada, the United Kingdom, Ireland, France, Germany, Austria, the Netherlands, Spain, Italy, Switzerland and Belgium. Yelp, Inc. is headquartered in San Francisco, California.
Check back later for our full analysis on Yelp’s earnings report!
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>