Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Hi, what are you looking for?

slide 3 of 2
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Finance

Finance

Yelp Shares Dip, Profits and Sales Rise

Yelp’s fourth quarter results on Thursday revealed a solid pattern of growth, although a review and rating site’s light guidance caused shares to drop. Over the last year, shares of Yelp surges 15%; after hours trading following the guidance saw shares drop 10% to $37.41.

Yelp forecasts adjusted earnings between $25 million to $28 million on revenue of $195 million to $199 million for the first quarter. This is below the analyst expectation of $30 million in profits on $204 million in revenue.

Yelp’s latest quarter, however, beat expectations. Net income rose 10 cents per share to $8.3 million, compared to a loss of 29 cents per share to $22.2 million in the previous year. Analysts expected a three cent rise. Analysts also estimated a revenue of $194.5; the actual revenue rose 27% to 194.8 million.

A total of 121 million local business reviews are held on the site. The fourth quarter saw a 27% increase of reviews. Additional features, such as the ability to make reservations and request quotes, were introduced.

This year, Yelp has set its sights on increasing engagement on mobile platforms. The most recent quarter showed an average of 24 million unique devices on its mobile app per month, up 20% from last year. These viewers are typically more active than desktop or mobile device users, viewing ten times as many pages. However, mobile app users are still a minority; desktop users garner 73 million unique visits, mobile users on their browser account for 65 million visitors.

According to co-founder and CEO Jeremy Stoppelman, Yelp aims to boost the number of transactions people carry out and expand its sales strategy.

“I am extremely proud of how Yelp has become deeply integrated into consumers’ daily habits and increasingly essential to local business owners,” Stoppelman said in a statement.

In line with analyst estimates of $895 million in revenue, Yelp projects adjusted earnings this year of $150 million to $165 million on revenue of $880 million to $900 million.


Comment Template

You May Also Like

Business

Yelp Inc (YELP.N) shares rose 10% in premarket trade Tuesday after activist investor TCS Capital Management advised the service-recommendation site to sell or merge...

Business

On Tuesday, higher pricing and traffic at Burger King and Tim Hortons helped Restaurant Brands International Inc (QSR.TO) outperform Wall Street projections for quarterly...

Economy

Around 1000 people were off last week, a report by Ian Payne. He is the chairman of Stonegate pubs in the United States. He...

Technology

Coffee giant, Starbucks is set to start licensing their mobile and loyalty program technologies, which will allow other companies to offer its mobile app...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok