Yelp shares rally after regular-session drop following earnings

Published: Nov 7, 2019 4:31 p.m. ET

Share
Print icon

Yelp Inc. YELP, -1.24% shares rose in the extended session even after the review site's earnings and outlook left a lot to be desired. Yelp shares rallied 11% after hours, following a 7.9% drop in the regular session to close at $30.12. The company reported third-quarter net income of $10.1 million, or 14 cents a share, compared with $15 million, or 17 cents a share, in the year-ago period. Revenue rose to $262.5 million from $241.1 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 19 cents on revenue of $262 million. Yelp said it expects fourth-quarter revenue to grow 11% to 13% over the prior year, or to a range of $270.5 million to $275.4 million, while analysts had forecast on revenue of $276.9 million.