Yelp, Inc. (NYSE: YELP) has reported second quarter results which look to be pleasing investors so far. The internet review site beat on revenues as its loss was less than expected, and it also managed to give a positive outlook for sales ahead. The reported earnings per share came in at a loss of -$0.03 and its sales were up 67% to $32.7 million. We had consensus estimates at -$0.06 in earnings per share on sales of almost $30.7 million.
For the current quarter, Yelp now expects that revenue will come in a range of $34.5 million to $35.5 million, and that is above the consensus of almost $35.5 million. For all of 2012, Yelp is forecasting revenues of $135 million to $136 million and that is better than the $130.7 million we have as the consensus Thomson Reuters target.
We would advise that this company is still in its early stages of being public so any conference call data or analyst action tomorrow could change the trading patterns significantly enough.
Yelp closed down 5.7% at $18.82 as social media has been les favorable in earnings of late, but shares are now up over 15% at $21.80 in the after-hours session. Yelp’s post-IPO range is $14.10 to $31.96.
JON C. OGG
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