) continued the social media charge after
) strong earnings performances in the second quarter.
Yelp beat the Zacks Consensus Earnings Estimate of $-0.03, by
turning a profit for the first time in company history, posting an
EPS of $0.04. More impressively, Yelp beat the Zacks
Consensus Revenue Estimate of $86.3 million by posting revenues of
Besides destroying the Zacks estimates for earnings and revenue,
the company stated that they saw a 27% increase in monthly unique
visitors up to 138 million, exceeding the expected 135
million. Moreover, sales increased 61% to $88.8 million,
beating the expected $86.3 million. These amazing numbers
caused Yelp to increase guidance for Q314, and FY 2014. Q314
revenue guidance was raised from $95.4 million to between $98
million and $99 million. Management also raised guidance for
FY 2014 from between $363 million to $367 million to a range of
$372 million to $375 million.
Another segment that was receiving a lot of attention was the
growth of Mobile monthly uniques. Well, that was a smash hit
too, rising 51% to 68 million.
During the regular trading day, Yelp rose 8.77%, and has continued
to rise in after-hours trading. The stock is up over 5% on
high volume in after-hours activity.
Tomorrow morning Zacks will post a detailed earnings report on
Want more insights from Zacks? See our latest free report
5 Stocks to Double
Click here to receive this free report now
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
YELP INC (YELP): Free Stock Analysis Report
FACEBOOK INC-A (FB): Free Stock Analysis Report
TWITTER INC (TWTR): Free Stock Analysis Report
To read this article on Zacks.com click here.