Yelp fourth-quarter earnings beat, CFO announces departure
Yelp. Inc. said it had a fourth quarter net loss of $22.2 million, or 29 cents per share, after income of $32.7 million, or 42 cents per share for the same period last year. Adjusted earnings were 11 cents per share. The FactSet consensus expected a loss of 3 cents per share. Revenue for the quarter was $153.7 million, up from $109.9 million last year. The FactSet consensus was for $152 million. The company said it had a 38% increase in the number of unique mobile devices accessing the Yelp app, to 20 million. The company also announced that its chief financial officer, Rob Krolik, will leave the company. He will stay on until a replacement is found, or until Dec. 15, 2016, whichever is earlier. He has been with the company since 2011. Yelp says it expects first-quarter revenue between $154 million and $157 million within range of the $154.3 million FactSet consensus. For the full year, the company expects revenue between $685 million and $700 million, also within range of the $687.5 million FactSet consensus. Yelp shares are down 6.4% in Monday trading, and down 59.2% for the past 12 months. The S&P 500 is down 10.6% for the past year.
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