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.
Kraft Heinz Reports Q4 Sales Miss
Photo credit: Nan Palmero, Flickr
See more from Benzinga
- Roku Earnings: Roku Higher After Q4 Sales Beat, Record Streaming Hours
- Caterpillar's Risk-Reward Is Attractive, Goldman Sachs Says In Upgrade
- Tesla Announces B Offering, Musk To Buy M In Common Stock
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.