SAN FRANCISCO | Yelp’s shares take a beating after revenue miss

8Nov - by Editor - 0 - In STL.News



SAN FRANCISCO — Shares of Yelp Inc. took a beating Thursday after the online-reviews site reported soft third-quarter sales and indicated the current period would also be weak.

Yelp’s stock was down $12.50, or 29 percent, to $31 in after-hours trading.

CEO Jeremy Stoppleman blamed the revenue miss on the company’s new non-term advertising, intended to encourage advertisers to try the site without being tied to longer-term contracts.

“While the shift to non-term advertising has opened our sales funnel, it has also made our results more sensitive to short-term operational issues,” Stoppleman said in a new release.

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