Yelp’s 2Q Results, Outlook Disappoint as Stock Plunges

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“Yelp is getting skewered by investors after the online business review service sank to a second-quarter loss and dimmed its outlook amid a slowdown in its digital advertising sales. The developments announced Tuesday raised more doubts about Yelp’s ability to survive on its own, although CEO Jeremy Stoppelman (pictured) told analysts in a conference company that he “is building the company to operate independently over the long-term.” He predicted Yelp could be generating $1 billion in annual revenue by 2017, more than doubling from a projected $545 million to $550 million this year. “