Yelp’s Local Advertising Model Flattens
Skift Take
To recap, Yelp didn't add as many new customers, and it also lost out on some local ad revenue. But the online advertiser promises to work out the kinks of its new business model in 2019.
Yelp’s local advertising business flattened in the third quarter, leading to a miss on revenue and lowered company guidance for the remainder of the year.
The online advertiser/local review site disclosed a net income of $15 million on sales of $241.1 million, Thursday — less than industry analysts' $245.4 million projection. In addition, Yelp revised down expected revenue totals for fiscal 2018 to between $938 million and $942 million, sending its shares tumbling 28 percent in after-hours trading.
Earlier this year, Yelp altered its go-to-market strate
