Beijing time November 9th morning news, the US comment website Yelp announced its third quarter earnings on Thursday. Yelp's third-quarter revenue was $241 million, slightly lower than analysts'forecast of $245 million; net profit attributed to common shareholders was $149.86 million.
Meanwhile, Yelp's fourth quarter earnings outlook was weak, ranging from $239 million to $243 million. The company expects annual revenue of 938 million to 942 million dollars.
The company adjusted its fourth-quarter revenue outlook as revenue fell short of analysts'expectations and new customer growth slowed. After announces its third quarter earnings, Yelp shares fell more than 28% on Thursday.
In an email to shareholders, Yelp said:
Last quarter's earnings had set Yelp's stock price at its 52 week high in August. At that time, earnings exceeded expectations, while Yelp raised its outlook for the year. As of Thursday's closing time, Yelp shares rose 3.7% this year.