Yelp Inc. (YELP) on Wednesday reported a second-quarter profit after posting a loss in the same period a year ago. The company's results beat analysts' expectations.
The San Francisco-based company reported net income of $2.7 million, or 4 cents per share, compared with a loss of $878,000, or 1 cent per share, in the same quarter a year ago. The average estimate of analysts surveyed by Zacks Investment Research was for a per-share loss of 3 cents.
The online business reviews provider said revenue rose 61 percent to $88.8 million from $55 million in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $86.4 million, according to Zacks.
Yelp shares have climbed $6.65, or 9.6 percent, to $75.60 since the beginning of the year. The stock has increased $33.80, or 81 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full YELP report: http://www.zacks.com/ap/YELP