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Yelp Inc Continues The Social Media Charge

ByZacks Investment Research
Published 07/31/2014, 03:03 AM
Updated 07/09/2023, 06:31 AM

Yelp Inc (NYSE:YELP) continued the social media charge after Facebook (NASDAQ:FB), and Twitter's (NYSE:TWTR) 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 $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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