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Here comes Yelp earnings… (YELP)

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Yelp Inc. CEO and co-founder Jeremy Stoppelman is seen in the Yelp offices in Chicago, Illinois, March 5, 2015.REUTERS/Jim Young

  • Yelp shares jumped in after-hours trading on Wednesday after reporting quarterly earnings and revenue that topped analysts’ expectations.
  • The company reported earnings of $0.37 per share on revenue of $243.7 million. Analysts surveyed by Bloomberg expected adjusted earnings per share of $0.36 on revenue of $241.2 million for the final three months of 2018.
  • Last quarter, shares of the user-review website crashed after it reported results and full-year guidance that fell short of expectations.
  • Follow Yelp’s stock price here on Markets Insider.

Shares of Yelp jumped by as much as 10% in after-hours trading on Wednesday after it reported quarterly earnings and revenue that topped Wall Street’s expectations.  

Here’s what Yelp reported, compared to what analysts surveyed by Bloomberg expected. 

  • Adjusted earnings per share: $0.37 vs. $0.36 expected.
  • Revenue: $243.7 million vs. $241.2 million expected.

The company said it expected to “exit 2019 with strong revenue growth.” Additionally, Yelp increased its share repurchase authorization from $250 million to $500 million.

Yelp shares have climbed 12% so far this year, but are trading 26% below their 52-week high hit last September. The stock has struggled in recent years as competitors like Facebook have entered the online review space.

Despite the strong showing, Yelp’s quarterly results come at a difficult moment for the company, as its stock trades 26% below its recent high and one of its largest investors has publicly expressed frustration with the user-review website’s management.

In mid-January, SQN Investors LP, an investor in Yelp, said in a public letter to the board of directors that its “patience has now worn out” after “a history of repeated strategic and operational missteps, missed expectations, sharp guidance revisions, and poor corporate governance that has led to significant stock underperformance.”

Read more: One of Yelp’s biggest investors says its patience has ‘worn out,’ and is urging management to make changes or sell the company

“Yelp is open to hearing any ideas and investor input, including from SQN,” Yelp said in a statement responding to the letter. “The Board and Nominating and Corporate Governance Committee are in the process, with the support of a nationally-recognized director search firm, of evaluating its composition and identifying additional Board candidates to help drive our strategy.”

Last quarter, shares of Yelp crashed after the company reported third-quarter results and full-year guidance that fell short of expectations.

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Yelp shares.Markets Insider

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More groups join in support of women in STEM program at Carleton

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OTTAWA — Major companies and government partners are lending their support to Carleton University’s newly established Women in Engineering and Information Technology Program.

The list of supporters includes Mississauga-based construction company EllisDon.

The latest to announce their support for the program also include BlackBerry QNX, CIRA (Canadian Internet Registration Authority), Ericsson, Nokia, Solace, Trend Micro, the Canadian Nuclear Safety Commission, CGI, Gastops, Leonardo DRS, Lockheed Martin Canada, Amdocs and Ross.

The program is officially set to launch this September.

It is being led by Carleton’s Faculty of Engineering and Design with the goal of establishing meaningful partnerships in support of women in STEM.  

The program will host events for women students to build relationships with industry and government partners, create mentorship opportunities, as well as establish a special fund to support allies at Carleton in meeting equity, diversity and inclusion goals.

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VR tech to revolutionize commercial driver training

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Serious Labs seems to have found a way from tragedy to triumph? The Edmonton-based firm designs and manufactures virtual reality simulators to standardize training programs for operators of heavy equipment such as aerial lifts, cranes, forklifts, and commercial trucks. These simulators enable operators to acquire and practice operational skills for the job safety and efficiency in a risk-free virtual environment so they can work more safely and efficiently.

The 2018 Humboldt bus catastrophe sent shock waves across the industry. The tragedy highlighted the need for standardized commercial driver training and testing. It also contributed to the acceleration of the federal government implementing a Mandatory Entry-Level Training (MELT) program for Class 1 & 2 drivers currently being adopted across Canada. MELT is a much more rigorous standard that promotes safety and in-depth practice for new drivers.

Enter Serious Labs. By proposing to harness the power of virtual reality (VR), Serious Labs has earned considerable funding to develop a VR commercial truck driving simulator.

The Government of Alberta has awarded $1 million, and Emissions Reduction Alberta (ERA) is contributing an additional $2 million for the simulator development. Commercial deployment is estimated to begin in 2024, with the simulator to be made available across Canada and the United States, and with the Alberta Motor Transport Association (AMTA) helping to provide simulator tests to certify that driver trainees have attained the appropriate standard. West Tech Report recently took the opportunity to chat with Serious Labs CEO, Jim Colvin, about the environmental and labour benefits of VR Driver Training, as well as the unique way that Colvin went from angel investor to CEO of the company.

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Next-Gen Tech Company Pops on New Cover Detection Test

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While the world comes out of the initial stages of the pandemic, COVID-19 will be continue to be a threat for some time to come. Companies, such as Zen Graphene, are working on ways to detect the virus and its variants and are on the forefronts of technology.

Nanotechnology firm ZEN Graphene Solutions Ltd. (TSX-Venture:ZEN) (OTCPK:ZENYF), is working to develop technology to help detect the COVID-19 virus and its variants. The firm signed an exclusive agreement with McMaster University to be the global commercializing partner for a newly developed aptamer-based, SARS-CoV-2 rapid detection technology.

This patent-pending technology uses clinical samples from patients and was funded by the Canadian Institutes of Health Research. The test is considered extremely accurate, scalable, saliva-based, affordable, and provides results in under 10 minutes.

Shares were trading up over 5% to $3.07 in early afternoon trade.

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