Yelp Inc (NYSE: YELP) reported a net loss for the first quarter of 2020, compared to profit last year. The stock declined during Thursday’s extended trading session, following the announcement.
The company reported a net loss of $15.5 million or $0.22 per share for the March-quarter, compared to profit of $1.37 million or $0.02 per share last year. Net revenues increased to $250 million from $236 million in the year-ago period.
Yelp’s stock dropped 34% since the beginning of the year and 32% in the past twelve months. The stock closed Thursday’s regular session higher but dropped during the extended session.