YELP Stock Nosedives on Q3 Revenue Miss, Earnings Beat

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Yelp stock  (NYSE: YELP ) is plummeting late in the day as the company reported its latest quarterly earnings results, which included revenue figures that were below what analysts were calling for in their consensus estimate.

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The local-search service provider said that for its third quarter of fiscal 2018 , it brought in a net income of $15 million, or 17 cents per share. The figure was ahead of the Wall Street consensus estimate of 10 cents per share.

Yelp added that its revenue for the period tallied up to $241.1 million, better than the $223.3 million that the Wall Street consensus estimate called for. Analysts were calling for the online-reviews site to bring in revenue of approximately $245.4 million.

CEO Jeremy Stoppelman added that the company's underwhelming revenue is slated to continue into what is slated to be a weak holiday season. "While the shift to non-term advertising has opened our sales funnel, it has also made our results more sensitive to short-term operational issues," he said in the release. "

We have begun to address a number of the issues that impacted our third quarter results; however, we expect them to affect our fourth quarter results as well, as reflected in our business outlook."

YELP stock took a nosedive after the bell on Thursday, falling roughly 27.9% as the company's third-quarter revenue was well below expectations. Shares had been falling roughly 3.1% during regular trading hours in anticipation of the company's quarterly results.

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The post YELP Stock Nosedives on Q3 Revenue Miss, Earnings Beat appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: YELP

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