REUTERS/Jim Young
- Yelp was scheduled to release fourth-quarter and full-year earnings after the market’s close on Wednesday.
- Analysts surveyed by Bloomberg expected adjusted earnings per share of $0.36 on revenue of $241.19 million for the final three months of 2018.
- Last quarter, shares of the user-review website crashed after it reported results and full-year guidance that fell short of expectations.
- Follow Yelp’s stock price here on Markets Insider.
Yelp was scheduled to report fourth-quarter and full-year earnings on Wednesday after the market’s close.
The quarterly results come at a difficult moment for the company, as its stock trades 26% below its recent high and one of its largest investors has publicly expressed frustration with the user-review website’s management.
Here’s what Wall Street was expecting, according to analysts surveyed by Bloomberg.
- Adjusted earnings per share: $0.36
- Revenue: $241.19 million
Yelp shares have climbed 12% so far this year, but are trading 26% below their 52-week high hit last September. The stock has struggled in recent years as competitors like Facebook have entered the online review space.
In mid-January, SQN Investors LP, an investor in Yelp, said in a public letter to the board of directors that its "patience has now worn out" after "a history of repeated strategic and operational missteps, missed expectations, sharp guidance revisions, and poor corporate governance that has led to significant stock underperformance."
"Yelp is open to hearing any ideas and investor input, including from SQN," Yelp said in a statement responding to the letter. "The Board and Nominating and Corporate Governance Committee are in the process, with the support of a nationally-recognized director search firm, of evaluating its composition and identifying additional Board candidates to help drive our strategy."
Last quarter, shares of Yelp crashed after the company reported third-quarter results and full-year guidance that fell short of expectations.
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Source: Business Insider