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Yelp Drops to Lowest Since 2013 on Declining Ad Sales

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Yelp Inc., an operator of user-review websites, fell to its lowest level in almost two years after slipping ad sales raised concerns the company is losing its share of major advertisers.

Yelp’s brand advertising declined 11 percent in the quarter to $6.6 million. While local advertising gained 51 percent year-over-year to $98.6 million, it declined from $84.7 million the previous quarter as a result of a sales-force restructuring, said Blake Harper, an analyst at Wunderlich Securities Inc.