Yelp Easily Beats Street Estimates in Q2 With Revenue Rising 69 Percent to $55 Million
Yelp’s second-quarter earnings are in, and Wall Street is giving it a solid review.
The online reviews site beat the Street’s expectations with losses of one cent per share on revenue of $55 million, compared to estimates of a loss of four cents per share on $53.3 million in revenue.
Adjusted EBITDA came in at about $7.8 million, up significantly from $1.6 million in the second quarter last year.
The San Francisco-based company also said it is raising its guidance for the full year, bumping up revenue projections to between $222 million and $224 million, which would mark a 62 percent increase over last year.
The stock was trading up three percent, to $43.05, in after-hours trading.
Yelp is currently embarking on an aggressive partnership strategy to help close the transaction loop for local businesses.