Yelp Posts Q4 Loss, CFO Rob Krolik Resigns

(RTTNews) - Yelp Inc. (YELP) on Monday posted a loss for the fourth quarter compared to a profit last year, as higher revenues were offset by increase in operating costs. Yelp said its Chief Financial Officer Rob Krolik was leaving the company.

Yelp reported fourth-quarter loss of $22.2 million or $0.29 per share, compared to last year's profit of $32.7 million or $0.42 per share.

Adjusted earnings dropped to $0.11 per share from $0.19 per share last year.

The customer-review website said revenues for the quarter rose 40 percent to $153.7 million from $109.9 million last year.

Analysts polled by Thomson Reuters expected a loss of $0.03 per share on revenues of $152.35 million for the quarter. Analysts' estimates typically exclude one-time items.

Yelp said app unique devices grew 38 percent year-over-year to about 20 million on a monthly average basis, while local advertising accounts grew 32 percent to around 111,000.

The company said its CFO Rob Krolik will be stepping down and departing the company in the coming months. Krolik, who joined the company in 2011, will continue as in the role until a replacement is hired.

Looking forward to the first quarter, the company expects revenues of $154 million to $157 million. For the full year, Yelp expects revenues of $685 million to $700 million. Analysts currently estimate revenues of $154.4 million for the first quarter and $687.42 million for the year.

YELP closed Monday's trading at $16.06, down $2.04 or 11.27%, on the Nasdaq. In the after-hours trade, the stock gained $0.24 or 1.49%.