Yelp Inc (NYSE: YELP ) stock was down on Friday following a poor outlook in its most recent earnings report.
Yelp Inc is looking for revenue in 2017 to be between $880 million to $900 million . Wall Street is expecting the company to report revenue of $895.33 million for the full year of 2017.
Yelp Inc's poor outlook came during a strong quarter from the company. For the fourth quarter of 2016, YELP reported earnings per share of 10 cents. This is an increase over its losses per share of 29 cents from the same time last year. It also came in above Wall Street's earnings per share estimate of 3 cents.
Revenue reported by Yelp Inc in the fourth quarter of 2016 was $194.80 million. This is a 27% increase over the company's revenue of $153.73 million from the fourth quarter of 2015. It also beat out analysts' revenue estimate of $194.49 million for the fourth quarter of the year.
Yelp Inc saw local revenue increase by 36% in the fourth quarter of the year. Transactions revenue for the period was up by 19% and the company's other revenue increased by 4%.
Net income reported by Yelp Inc during the fourth quarter of 2016 was $8.26 million. The online review business reported a net loss of $22.23 million for the same period of the year prior.
YELP stock was down 13% as of noon Friday.
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