Showing posts with label US Equities. Show all posts
Showing posts with label US Equities. Show all posts

Saitama Rakuten International Sees Yelp Swing Back To Profit

Saitama Rakuten International noted that Yelp Inc. swung to an advantage in the fourth quarter, as average monthly unique visitors rose 13% to about 135 million, a growth rate that was below that of its past few quarters.

The San Francisco consumer-review website said average monthly mobile unique visitors increased 37% to about 72 million and said it would look to drive mobile engagement this year.

"Yelp are progressing brilliantly, the business strategy to enhance mobile engagement is an excellent move to strive for further success". Commented Son Jun-Ho, Director of Research at Saitama Rakuten International.

For the current quarter, Yelp expects revenue of $114 million to $116 million. Analysts polled by Thomson Reuters project $115 million.

Yelp shares fell 9.7% to $51.90 in recent after-hours trading. Yelp has been trying to expand its reach, launching websites in Chile and Hong Kong as well as a mobile service that allows users to translate reviews. During the fourth quarter, Yelp bought European review sites Restaurant-Kritik and Cityvox. Yelp now reaches 29 countries.

For the quarter ended December 31st, Yelp earned $32.7 million, or 42 cents a share, compared with a loss of $2.1 million, or three cents a share, a year earlier. Revenue rose 55.5% to $109.9 million.

Excluding items such as a tax benefit and stock-based compensation, Yelp earned 24 cents a share.

Yelp had projected revenue between $107 million and $108 million.

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For the full year, Yelp expects revenue of $538 million to $543 million, compared with Wall Street estimates of $538 million. Yelp projects $100 million to $103 million in adjusted earnings before interest, taxes, depreciation and amortisation.

Saitama Rakuten International also note that elsewhere, VeriSign Inc.'s fourth-quarter profit fell sharply as the Internet domain registrar and security company recorded tax charges, related primarily to repatriation of offshore assets.

Founded in 1995, the Reston, Va., company operates the registry for .com, .gov, .edu and other top-level domains along with two of the world's 13 Internet root servers, which handle Internet traffic around the world.

For more information please visit Saitama Rakuten International.