Yelp Q3 Earnings Decline, Revenue Increases; Agrees to Acquire RepairPal

MT Newswires Live11-08

Yelp (YELP) reported Q3 earnings late Thursday of $0.56 per diluted share, down from $0.79 a year earlier.

Analysts polled by Capital IQ expected $0.42.

Revenue for the quarter ended Sept. 30 was $360.3 million, compared with $345.1 million a year earlier.

Analysts polled by Capital IQ expected $360.4 million.

The company lowered its full-year revenue outlook to about $1.4 billion from its previous guidance of $1.41 billion to $1.43 billion. Analysts polled by Capital IQ expect $1.41 billion.

In the same statement, Yelp said it signed an agreement to acquire auto services platform RepairPal for $80 million in cash. The acquisition is expected to close by the end of the year.

Price: 35.35, Change: -1.02, Percent Change: -2.80

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