Yelp beats Street 3Q forecasts

MarketsAssociated Press

Yelp Inc. (YELP) on Wednesday reported third-quarter net income of $2.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the San Francisco-based company said it had profit of 2 cents. Earnings, adjusted for one-time gains and costs, came to 22 cents per share.

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The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.

The online business reviews company posted revenue of $186.2 million in the period, also exceeding Street forecasts. Fourteen analysts surveyed by Zacks expected $182.8 million.

For the current quarter ending in December, Yelp said it expects revenue in the range of $191 million to $195 million.

The company expects full-year revenue in the range of $709 million to $713 million.

Yelp shares have risen 13 percent since the beginning of the year. The stock has increased 36 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on YELP at https://www.zacks.com/ap/YELP

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Keywords: Yelp, Earnings Report