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.
