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Yelp Up Premarket As It Raises Guidance, Buys Eat24

  • Yelp (NYSE:YELP) is up 4.1% premarket as it adjusts 2015 guidance upward.
  • The company has raised Q1 revenue outlook to $118.5M-120.5M, vs. an expected $115.8M. For the full 2015, Yelp is raising net revenue expectations to $574M-579M vs. an expected $543M.
  • The company still expects adjusted EBITDA for Q1 to be $19M-21M vs. $20.7M expected. For full 2015, the company sees higher adjusted EBITDA of $102M-105M, in line with expectations of $104.6M.
  • Yelp has also acquired food-ordering service Eat24 for about $134M ($75M cash and about 1.4M shares of Yelp Class A stock) and plans to expand its offering to 1M restaurants. Read More