Yelp (YELP) Misses Q1 EPS by 14c, Revenues Beat

Yelp (NYSE: YELP) reported Q1 EPS of ($0.22), $0.14 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $249.9 million versus the consensus estimate of $230.76 million.

• First Quarter 2020 Net Revenue Grew 6% Compared to First Quarter 2019
• Net Loss of $16 Million
• Adjusted EBITDA was $17 Million
• As of March 31, 2020, the Company had $491 Million of Cash, Cash Equivalents and Marketable Securities

“The emergence of the COVID-19 pandemic has drastically changed nearly all aspects of life and has significantly impacted local businesses and their ability to operate as they once did,” said Jeremy Stoppelman, Yelp’s co-founder and chief executive officer. “Our first quarter results demonstrate the strength of our strategy, as we grew Revenue 6% compared to the first quarter of 2019, despite the emergence of the COVID-19 pandemic in March. While there is no way of knowing how long this pandemic will last, we are encouraged by the early signs of stabilization in the business that we witnessed in the second half of April. We are confident that our diversified customer base across a variety of geographies and categories, financial liquidity, and operational capabilities will enable Yelp to weather the current crisis and emerge well-positioned to support local economies as they recover and return to growth.”

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

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