Yelp Stock Whimpers After Mixed Q4 Results, Expands Buyback Program
Portfolio Pulse from Erica Kollmann
Yelp Inc. (NYSE:YELP) reported mixed Q4 results with earnings of 37 cents per share, missing estimates by 2.63%, but surpassed sales expectations with $342.38 million, a 10.76% increase year over year. The company announced a $500 million increase in its share repurchase program and provided a positive outlook for 2024, expecting net revenue between $1.42 billion and $1.44 billion and adjusted EBITDA between $315 million and $335 million. Despite this, Yelp shares dropped 8.76% after-hours.
February 15, 2024 | 10:38 pm
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Yelp Inc. reported mixed Q4 results, missing EPS estimates but exceeding sales forecasts. The company also announced a significant increase in its share repurchase program and provided an optimistic outlook for 2024.
The mixed Q4 results, with a miss on EPS estimates, could lead to short-term negative sentiment among investors, despite the beat on sales forecasts and the positive outlook for 2024. The significant drop in share price after-hours indicates immediate negative market reaction. However, the increase in the share repurchase program and the optimistic revenue and EBITDA outlook for 2024 could provide some support to the stock in the short term.
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IMPORTANCE 90
RELEVANCE 100