Yelp Shares Volatile After Unexpected Q4 Earnings Release

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Yelp IncYELP
was halted mid-Monday afternoon, right before the company's Q1 earnings report was released a few hours early. The company told CNBC its earnings were released early due to "a vendor error by PR Newswire." Yelp reported Q4 EPS of $0.11, which beat estimates that called for a loss of $0.03 per shares. Revenues came in at $153.7 million vs. an estimated $152.35 million. Yelp sees Q1 sales of $154-$157 million vs. $154.4 million estimates. It also sees FY16 Sales $685-$700 million vs. $687 million estimates. The company sees Q1 adj. EBITDA $10-$12 million; FY16 adj. EBITDA of $90-$105 million. In addition, CFO Rob Krolik will leave the company and will assist in the search and transition of his replacement. Shares were halted at 1:14 p.m. ET and resumed trading at 1:19 p.m. ET. After initially falling more than 11 percent, the issue quickly made up lost ground and traded in the green. It was then briefly halted for a second time. The stock hit a Monday-high of $18.81, before again selling off. Shares traded recently at $16.83, down 7 percent.
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Posted In: EarningsNewsGuidanceManagementIntraday UpdateMoversTechyelp
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