Yelp (NYSE:YELP) disclosed its financial performance for the fourth quarter, delivering a mix of results with revenue slightly beating analyst predictions but earnings per share (EPS) not meeting expectations.

The company reported a Q4 EPS of $0.37, narrowly missing the analyst forecast of $0.38. Nonetheless, its quarterly revenue amounted to $342.38 million, slightly above the anticipated $341.32 million.

Following the release, Yelp’s stock experienced a 13% drop, largely attributed to a less optimistic revenue forecast for 2024 than investors had hoped for.

The company expects net revenue to range from $1.42 billion to $1.44 billion, which is below the analyst consensus of $1.46 billion. For the forthcoming year, Yelp is projecting its adjusted EBITDA to be between $315 million and $335 million.

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