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Yelp shares plunge after earnings disappoint

Yelp shares plunge after earnings disappoint

Shares of Yelp fell nearly 16% after the online business review service reported a second-quarter loss and dimmed its outlook amid slowing ad sales. The developments announced Tuesday raised more doubts about Yelp's ability to survive on its own, although CEO Jeremy Stoppelman told analysts in a conference company that he "is building the company to operate independently over the long-term." He predicted Yelp could be generating $1 billion in annual revenue by 2017, more than doubling from a projected $545 million to $550 million this year. Those words did little to assuage investors as Yelp's stock plummeted $5.31, or nearly 16%, to $28.20 in extended trading. The...

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