Yelp stock jumped Wednesday after it reported second-quarter earnings after the market close Wednesday that blew past earnings estimates.
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Yelp (YELP), a provider of online business reviews, reported revenue of $235 million. That beat analyst views of $232.3 million. Yelp reported adjusted earnings of 12 cents per share, smashing the consensus of a 1-cent profit.
Shares of Yelp soared by 13%, near 43.15, during after-hours trading on the stock market today.
Outlook Below Views
Yelp provided a third-quarter revenue outlook in the range of $242 million to $246 million. That's below analyst estimates for $247.2 million. It estimated 2018 revenue in the range of $952 million to $967 million. The midpoint of $969 million was in line with estimates.
"Second-quarter results were once again driven by strong revenue growth in our core advertising business," Chief Executive Jeremy Stoppelman said in a prepared statement. "We completed the transition to selling non-term local advertising in the quarter, which helped deliver record advertising account additions."
Yelp held $803 million in cash or cash equivalents.
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