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 $88.8 million.
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 Yelp.
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