- After busting a new 52-week high during market hours, Yelp (NYSE:YELP +3%) is up 10.5% after hours following a Q2 earnings beat that featured upbeat guidance for the out quarter and a raised outlook for the full year.
- Local revenue grew 41% to $151.9M; Transactions revenue gained 37% to $15.5M. (Other revenue of $6M was down 6%).
- In operations: Cumulative reviews grew 30% Y/Y to about 108M. App unique devices were up 27% to about 23M on monthly average basis, and local ad accounts grew 32% to about 128,000.
- For Q3 Yelp expects revenue of $180M-$184M (27% growth at the midpoint, and above consensus for $179.6M), and adjusted EBITDA of $24M-$28M (vs. consensus for $28.2M).
- It's raising its full-year outlook, forecasting revenue of $700M-$708M (28% growth at midpoint, and vs. consensus for $699.7M) and EBITDA of $100M-$108M (vs. $99.8M expected).
- Press Release