Stories
Slash Boxes
Comments

SoylentNews is people

SoylentNews is powered by your submissions, so send in your scoop. Only 16 submissions in the queue.

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.

Original Submission

 
This discussion has been archived. No new comments can be posted.
Yelp Craters as Much as 32% as Advertisers Abandon the Site | Log In/Create an Account | Top | 17 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 0) by Anonymous Coward on Saturday November 10 2018, @05:15AM

    by Anonymous Coward on Saturday November 10 2018, @05:15AM (#760243)

    If I was in charge, the swine who are the principals at Yelp would be flayed and fed to sharks.

    Before you bother to ask, I did have harsher punishments in mind, but the above should be sufficient.