Yelp, (YELP) Accelerating Local Growth; PT to $28 - Jefferies
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Yelp Announces First Quarter 2016 Financial Results
May 5, 2016 4:05 PM EDTLocal Revenue Increases 40% Over First Quarter 2015
SAN FRANCISCO--(BUSINESS WIRE)-- Yelp Inc. (NYSE: YELP), the company that connects people with great local businesses, today announced financial results for the first quarter ended March 31, 2016.
Net revenue was $158.6 million in the first quarter of 2016, reflecting 34% growth over the first quarter of 2015. Excluding brand advertising revenue, to account for the elimination of Yelps display advertising product in 2015, net revenue grew 42% compared to the first quarter of 2015. Cash flow from operations was $23.9 million in the first quarter.... More