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Yelp Craters as Much as 32% as Advertisers Abandon the Site

posted by martyb on Saturday November 10 2018, @04:23AM   Printer-friendly
from the "Yelp"-definition:-n.-A-cry-of-pain dept.

Phoenix666 writes:

CNBC:

Yelp cratered as much as 32 percent Friday, a day after releasing third-quarter earnings that revealed advertisers are abandoning the site and denting revenue.

Shares fell as low as $29.33, a new 52-week low, before paring some losses to close nearly 27 percent down at $31.92. The plunge makes for the stock's worst day of trading since going public in 2012.

Yelp added zero net new advertising customers during the quarter. Yelp earlier this year switched from long-term advertising contracts in local markets to more flexible, nonterm contracts. That change resulted in significant contract cancellations.

The change in contract terms was cited as the reason for the decline.

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  • (Score: 0, Troll) by Anonymous Coward on Saturday November 10 2018, @11:51AM (1 child)

    by Anonymous Coward on Saturday November 10 2018, @11:51AM (#760309)

    Didn't you die or something?
    Perhaps we should leave a review of your life on Yelp
    To you know help it out a bit by increasing site visits

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  • (Score: 2) by MichaelDavidCrawford on Saturday November 10 2018, @07:55PM

    by MichaelDavidCrawford (2339) Subscriber Badge <mdcrawford@gmail.com> on Saturday November 10 2018, @07:55PM (#760473) Homepage Journal

    I'll get my will written now.

    This time for sure.

    --
    Yes I Have No Bananas. [gofundme.com]