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Yelp Reports Q4 Earnings Miss, Announces New CFO

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Yelp Reports Q4 Earnings Miss, Announces New CFO

Yelp (NYSE: YELP) reported fourth-quarter earnings of 24 cents per share on Thursday, which missed the analyst consensus estimate of 26 cents. This is a 35% decrease over earnings of 37 cents per share from the same period last year.

The company reported quarterly sales of $268.823 million, which missed the analyst consensus estimate of $273.65 million. This is a 10.29% increase over sales of $243.74 million the same period last year.

Yelp added $250 million to its buyback and named David Schwarzbach as its new CFO.

"2019 marked a pivotal year for Yelp as we embarked on an ambitious, multi-year business transformation plan," said Jeremy Stoppelman, Yelp's CEO. "We are pleased to have reaccelerated revenue growth in the second half of 2019, while also increasing adjusted EBITDA margin year-over-year. We ended the year with double-digit revenue growth in the fourth-quarter and that momentum has continued into 2020, giving us confidence in our ability to achieve our long-term financial targets."

Yelp shares were trading down 3.4% to $35.25 at time of publication. The stock has a 52-week range between $40.99 and $30.12.

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Photo credit: Nan Palmero, Flickr

 

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