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Yelp Shares Plummet On Sales Outlook Despite Beating Third Quarter ...

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Yelp CEO Jeremy Stoppelman at his company's San Francisco headquarters. (Photo: Eric Risberg/AP)

Yelp shares are down more than 11% in after hours trading on Wednesday, after the company announced third quarter earnings that exceeded analysts' forecasts.


For the three months ending on Sept. 30 Yelp reported net income of $3.6 million, or 5 cents per share, compared to a net loss of $2.3 million, or 4 cents per share, in the same period last year. An average estimate from analysts polled by Yahoo, expected profits for the company to come in at two cents a share.


The company's net sales came in at $102.5 million, up 67% from last year's third quarter figure of $61.2 million. That total exceed the average estimate from analysts polled by Yahoo, who expected net revenue to come in at $99 million.


Follow me on Twitter at @RMac18 or email me at rmac@forbes.com.
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