Additionally, Yelp set its 2016 first quarter revenue guidance at $154 million to $157 million, in line with estimates of $154.4 million. Yelp is trading at 59 times its expected future earnings.
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The company told CNBC that its earnings report was leaked earlier than intended due to “a vendor error by PR Newswire”.
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“Rob has played a crucial role in Yelp’s successful transition from startup to public company, bringing his professionalism and experience to bear in setting Yelp on a firm financial foundation and headed in the right direction”, Jeremy Stoppelman, Yelp’s co-founder and CEO, said in a news release. The company was founded in 2004 and is headquartered in San Francisco, California. Last quarter, display advertising revenue came in at about $9 million.
Yelp’s sales growth slowed down past year. At the same time, tension with Google, which once tried to buy Yelp and is now part of Alphabet Inc., has intensified as Google pushes its own listings.
Consumer review website operator Yelp Inc (YELP.N) reported a smaller-than-estimated loss on Monday, but its shares slumped 12 percent, swept up in a broader selloff in the technology sector.
The company reported a net loss of $22.2 million, or 29 cents per share, attributable to common stockholders for the quarter ended December 31, compared with a profit of $32.7 million, or 42 cents per share, a year earlier. Excluding one-time items, Yelp earned 11 cents a share, while anlaysts surveyed by Thomson Reuters had forecast the company to lose 3 cents a share, on $152.3 million in revenue.
In September of a year ago, Yelp launched its first national advertising campaign and spent $30 million in the process.
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Revenue rose to $153.7 million, at the high end of the company’s projection of $149.5 million to $154.5 million.
