Core Labs (NYSE:CLB) -7.9% AH after reporting mixed Q3 results but offering reduced guidance for Q4.
CLB now sees Q4 EPS of $1.53-$1.56 vs. $1.61 analyst consensus estimate and lowered from a prior outlook for $1.56-$1.61, on revenues of $275M-$280M vs. $292M consensus; also sees Q4 operating margin of 33%, exiting the year at 34%.
CLB expects Q4 North American activity will continue to increase slightly for emerging unconventional oil plays while remain at stable levels in established unconventional tight oil and gas plays; internationally, flat activity levels are seen through year-end 2014 and entering 2015 in response to weaker Brent crude prices.
While YELP doesn't provide an explanation in its earnings release for its soft Q4 guidance (revenue expected to be $3M-$4M below consensus), its traffic data arguably helps explain the shortfall.
Average monthly unique visitors rose 19% Y/Y in Q3 to 139M, a slowdown in growth from Q2's 27% and Q1's 30%. Moreover, monthly uniques only rose by 1M Q/Q. Mobile monthly uniques rose 46% Y/Y to 73M, after growing 51% in Q2.
Active local business accounts (a concern going in) were fairly healthy: They rose 51% Y/Y to 86.2K, after growing 55% in Q2. Accounts rose by 7.3K Q/Q. Cumulative reviews rose 41% to 67M; 44% growth was seen in Q2.
GAAP sales/marketing spend rose 60% Y/Y to $54.5M (53% of revenue), a pickup in growth from Q2's 55%. Total costs/expenses rose 55% to $97.9M.
In spite of the light revenue guidance, Yelp has upped its full-year adjusted EBITDA guidance to $69.5M-$70.5M from $67M-$69M.