Yelp (YELP) Tops Q4 EPS by 14c, Offers Q1 Guidance, CFO Steps Down
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Yelp (NYSE: YELP) reported Q4 EPS of $0.11, $0.14 better than the analyst estimate of ($0.03). Revenue for the quarter came in at $153.7 million versus the consensus estimate of $152.35 million.
Notably, the results, which were expected after the close today, were released to the market early which is said to be related to a vendor error from PR Newswire.
GUIDANCE:
Yelp sees Q1 2016 revenue of $154-157 million, versus the consensus of $154.40 million.
Yelp sees FY2016 revenue of $685-700 million, versus the consensus of $687.42 million.
CFO Transition
The company announced that chief financial officer Rob Krolik will be stepping down and departing the company in the coming months. Krolik, who joined the company in 2011, will continue as chief financial officer until the earlier of the date a replacement is hired and December 15, 2016, and will assist in the search and transition. The company intends to immediately begin a search for a new chief financial officer.
"Rob has played a crucial role in Yelp's successful transition from startup to public company, bringing his professionalism and experience to bear in setting Yelp on a firm financial foundation and headed in the right direction," said Jeremy Stoppelman. "I am grateful for his counsel, his leadership and work on our public offerings and five acquisitions, and his efforts in opening facilities around the world to accommodate our more than 4,000 employees. I will miss his passion for Yelp and wish him continued success in his next endeavor."
"I am a strong believer in the power of Yelp to help consumers and local businesses alike, which is why it has been such a tremendous opportunity and privilege to serve as CFO," said Krolik. "It's been a rewarding experience taking Yelp public, diversifying our offerings through acquisitions, and seeing our team deliver significant and consistent revenue growth year after year. After almost five years with Yelp, I am ready to take some time off to spend more time with family, but expect us to seamlessly transition to a new chief financial officer in the meantime.
For earnings history and earnings-related data on Yelp (YELP) click here.
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