Yelp's stock price fell after hours on Wednesday amid a worse-than-expected financial forecast.
Yelp said it expects to earn less revenue than expected for the full 2017 fiscal year amid a light fourth quarter.
Yelp's full-year forecast calls for $839 million to $844 million in revenue. Analysts surveyed by FactSet expected a midpoint of $861.5 million. Yelp had said in August it expected revenue of $855 million to $865 million for the full year.
In the fourth quarter, Yelp expects sales of $211 million to $216 million — a FactSet estimate called for $234.3 million.
Still, the local business listing website saw double-digit growth in the third quarter for advertising revenue, transactions revenue, the number of reviews and the number of devices accessing its app, compared to last year. And third-quarter earnings were better than expected.
Yelp reported adjusted earnings of 9 cents per share on revenue of $222 million in the third quarter. Analysts polled by Thomson Reuters expected a loss of 2 cents per share on revenue of $221 million.
Yelp shares have risen more than 20 percent so far this year.