Net income moved up to $14.9 million or $0.17 per share during the three-month period from $8 million or $0.09 per share in the year-over period. Analysts had expected earnings of $0.08 per share.
“We remain positive about the move to more flexible and dynamic advertising terms, as we believe the shift greatly increases our long-term sales opportunity and opens up additional levers to expand Yelp’s sales reach and profit margins,” said Yelp CEO Jeremy Stoppelman.
Yelp shares closed Thursday’s session lower, after falling 6% over the past twelve months. The stock dropped further in the after-hours following the announcement.
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