Yelp (NYSE:YELP) reported its latest quarterly earnings results after the bell on Wednesday, which saw the company post strong profit for the period, while it also increased its guidance for the current quarter.
The restaurant review forum site said that for its second quarter of fiscal 2018, it brought in net income of $10.7 million, which amounted to roughly 12 cents per share. The figure was an improvement over the company’s net income from the second quarter of fiscal 2017, when it tallied up earnings of 9 cents per share.
Analysts were calling for Yelp to bring in earnings at a penny per share for the period. The company also impressed on the revenue front as it brought in sales of $234.9 million.
During the year-ago quarter, the company raked in revenue of $209.9 million. Wall Street said in its consensus estimate that it was projecting Yelp to rake in revenue of $232.2 million.
The company also increased its guidance for its fiscal 2018 as it now sees revenue in the range of $952 million to $967 million from a previous statement of $943 million to $967 million. Yelp also increased its adjusted EBTIDA guidance to $186 million to $192 million from $179 million to $188 million.
YELP stock was down about 1.2% during regular trading hours Wednesday in anticipation of the company’s quarterly earnings report. Shares were soaring roughly 11.1% after the bell after the company reported an earnings beat and hiked up its guidance.
