Yelp beats and raises in Q1 earnings; shares fall

|About: Yelp (YELP)|By:, SA News Editor

Yelp (NYSE:YELP) is down 3.7% after hours following Q1 earnings where it halved net losses from last year and raised its full-year outlook.

Broad strength in advertising led to an overall 13% gain in revenue -- 22% excluding revenue from Eat24 (sold to GrubHub in October) and Nowait and Turnstyle (acquired last year).

Net loss drew down to $2M, and EBITDA of $33M (up 10%) beat an expected $31.2M.

Revenue by product: Advertising, $214M (up 20.3%); Transactions, $3.8M (down 78.7%); other services, $5.19M (up 135%).

Cash flow from operations came to $38M; cash, equivalents and marketable securities at quarter's end were $830M.

It's guiding to full-year revenues of $943M-$967M (vs. consensus for $953.4M) and EBITDA of $179M-$188M (vs. consensus for $182.6M).

Conference call to come at 5 p.m. ET.

Press release

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