Yelp Continues To Post Steep Loss After Initial Sell-Off

(RTTNews) - Shares of Yelp Inc. (YELP) have climbed off their worst levels of the day but remain sharply lower in late-day trading on Friday. After hitting its lowest intraday level in well over a year, Yelp is currently down by 26.1 percent.

Yelp showed a steep drop at the start of trading after the online review site operator reported third quarter revenues of $241.1 million, which fell short of the consensus estimate of $245.4 million.

The company also lowered its full year revenue forecast to between $938 million and $942 million from prior expectations of $952 million to $967 million.