YELP - Yelp slips ~8% after hours as co sees less spending from advertisers in Q4
- Shares of Yelp ( NYSE: YELP ) fell 7.8% to $33.50 in Thursday post-market trading, after the online platform said it expects to see a "more muted" holiday season and less spending from multi-location advertisers in Q4.
- The company posted Q3 GAAP EPS of $0.13 which missed estimates by $0.04 . Revenue grew 14.8% Y/Y to $308.89M and beat expectations by $1.47M .
- Yelp ( YELP ) runs an online website and a mobile application that allows users to connect to local businesses and then leave reviews for others to see.
- Though paying advertising locations increased 7% Y/Y to a record 572K in the quarter, total ad clicks fell 15% from last year, YELP said in a letter to shareholders .
- The company also guided Q4 revenue of about $300M to $310M which was below the consensus estimate of $314.11M.
- Additionally, YELP narrowed its FY 2022 revenue and adj. EBITDA forecasts.
For further details see:
Yelp slips ~8% after hours as co sees less spending from advertisers in Q4