Commerce

Yelp Misses on Earnings, Beats on Revenue in Q3

Published on October 29, 2013
by Jason Del Rey

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Yelp just announced that it posted a third-quarter loss per share, excluding certain items, of four cents on higher-than-expected revenue of $61.2 million.

Wall Street analysts had been expecting, on average, earnings of one cent per share on $59.4 million in revenue.

The stock was down as much as four percent in early after-hours trading, but continued to bounce around.

Yelp also announced it would initiate a follow-on offering of up to $250 million, with an additional $37.5 million in Class A shares being made available to the underwriters.

Yelp said it had integrated Qype’s France and U.K. sites following the 2012 acquisition of the European company. Restructuring and integration costs were $2.8 million for the quarter, up from $1.8 million in the same quarter last year.

Yelp continues to grow its presence on mobile; the company said its mobile apps were used on 11.2 million mobile devices on average in the quarter.

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URL: http://allthingsd.com/20131029/yelp-misses-on-earnings-beats-on-revenue-in-q3/