Yelp sees 2018 revenue $938M-$942M, consensus $963M - InvestingChannel

Yelp sees 2018 revenue $938M-$942M, consensus $963M

Sees 2018 adjusted EBITDA $178M-$180M. The company said, “Although the number of new local account additions remained higher in the third quarter compared to periods prior to the transition to non-term advertising, the pace of new account growth that we saw in the first half of 2018 slowed in the third quarter. This deceleration was unexpected given the strong momentum and positive customer feedback we saw throughout the first half of the year. At the same time, cancellations increased-as we anticipated-following the record number of new account additions in the first half of 2018, resulting in flat Paying advertising accounts compared with the second quarter of 2018. This slowdown in overall Paying advertising account growth negatively impacted our third quarter Advertising revenue results, and we expect it to cause fourth quarter Net revenue and Adjusted EBITDA to be lower than reflected in our prior Business Outlook.”