Yelp is crashing after earnings miss

Yelp shares are crashing after a big earnings miss.

On Wednesday after the market close, Yelp reported a first quarter loss per share of 2 cents, missing expectations for a 1 cent loss, on revenue that totaled $US118.5 million, short of expectations for revenue of $US119.8 million, according to estimates from Bloomberg.

Shares were down as much as 13% in after hours trade following the results.

The company’s outlook also disappointed, with Yelp saying that revenue in the second quarter is expected to total $US131-$US134 million, below expectations for $US138.4 million.

The company’s full-year revenue outlook was also a little light, coming in at $US574-$US579 million against expectations for $US579.2 million.

Going into Wednesday’s close, Yelp shares were down about 11% year-to-date.

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