Yelp (NYSE:YELP) shares rose nearly 5% on Friday after the company released its Q2 results, showing earnings per share of $0.21, surpassing the Street estimate of $0.16. The company also achieved a 13% year-over-year increase in revenue, reaching $337 million, beating the Street estimate of $325.49 million.
Yelp’s CEO, Jeremy Stoppelman, expressed his satisfaction with the results, highlighting the impressive achievement of nine consecutive quarters of double-digit growth. He specifically pointed out that net revenue reached a new high, driven by record advertising revenue across various categories.
Given the positive performance, the company raised its full-year outlook. Yelp now expects net revenue to fall within the range of $1.32 billion to $1.33 billion, and adjusted EBITDA to be in the range of $310 million to $320 million.
At CWEB, we are always looking to expand our network of strategic investors and partners. If you're interested in exploring investment opportunities or discussing potential partnerships and serious inquiries. Contact: jacque@cweb.com