Yelp Tops Q4 EPS, Revenue Estimates; Increases Share Repurchase Program by $250 Mln

Yelp (YELP) said Wednesday that for Q4, it recorded net income of $31.9 million, or $0.37 per diluted share, declining year over year from $141.1 million, or $1.58 per diluted share, but beating consensus estimates of $0.36 per share.

The company, however, improved its Q4 revenue to $243.7 million, from $219.4 million in the same quarter of the previous year, also exceeding consensus estimates of $241.1 million.

Yelp also said that its board of directors authorized an increase of $250 million to its current share repurchase program , bringing the total authorization to $500 million. The company is planning to repurchase about $250 million of its common stock in H1.

Yelp’s board also appointed George Hu, Sharon Rothstein and Brian Sharples as directors, replacing Geoff Donaker, Jeremy Levine, and Peter Fenton, effective March 1.

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