Yelp (YELP) Tops Q2 EPS by 8c; Issues Solid Outlook and Names Jed Nachman as COO

August 9, 2016 4:06 PM EDT
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Yelp (NYSE: YELP) reported Q2 EPS of $0.01, $0.08 better than the analyst estimate of ($0.07). Revenue for the quarter came in at $173.4 million versus the consensus estimate of $169.82 million.


Yelp sees Q3 2016 revenue of $180-184 million, versus the consensus of $179.7 million.

Yelp sees FY2016 revenue of $700-708 million, versus the consensus of $699.8 million.

Jed Nachman Promoted to Chief Operating Officer

The company announced that Jed Nachman has been appointed chief operating officer effective August 9, 2016. Geoff Donaker will be retiring from the COO position after 11 years with Yelp. Donaker will continue as a strategic advisor to the company and retain his seat on Yelp's board of directors.

“We are excited about Jed’s move to COO,” said Jeremy Stoppelman, Yelp’s co-founder and CEO. “Since joining Yelp in 2007, Jed has grown the revenue organization from 10 to over 2,400 team members and has brought a tremendous amount of energy, leadership and accountability to the company. As an integral member of our executive team, I am confident that Jed will build on our successes thus far as we are just starting to capture the large opportunity ahead of us.”

“For more than a decade, Geoff Donaker has been an important part of Yelp and our journey from a small start-up to a thriving public company today,” said Stoppelman. “His leadership and contributions have been exceptional as we have grown our user base, our employee base and our operations around a durable business model that has delivered strong revenue growth. His advice has been invaluable, and the executive team and I look forward to his continued involvement in Yelp’s future.”

“It has been a privilege and an incredibly rewarding experience to serve as COO, bringing Yelp to new markets, growing revenue to over half a billion dollars and working with such a talented leadership team,” said Geoff Donaker. “Having worked closely with Jed throughout his tenure at Yelp, I am confident he will continue to thrive in this new role. I strongly believe in Yelp’s mission and the opportunity to transform the way consumers and local businesses connect, and I look forward to continued engagement as a strategic advisor and board member.”

For earnings history and earnings-related data on Yelp (YELP) click here.

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