Yelp earnings (NYSE:YELP) came in stronger than what Wall Street was calling for by a ratio of nearly 4 to 1, while revenue also topped expectations, helping to lift YELP stock more than 5% after the bell Wednesday.
For its fourth quarter of its fiscal 2018, the San Francisco-based company announced that it closed out the year on a high note as it brought in adjusted earnings of 37 cents per share. Wall Street said in its consensus estimate that it saw the company amassing adjusted earnings of 10 cents per share, which was compiled from a survey of analysts conducted by Refinitiv.
Yelp added that it raked in revenue of $244 million for the period, handily beating the $241 million that the Refinitiv forecast called for. The review site company’s board had previously announced that it had authorized a share repurchase program amounting to $250 million worth of YELP stock–the company doubled the buyback amount to $500 million in a Wednesday announcement.
The company also revealed that it has added three new board members to its fold in Twilio COO George Hu, Stripes Group Operating Partner Sharon Rothstein, as well as HomeAway co-founder Brian Sharples. Yelp said they will begin their terms on March 1, replacing Geoff Donaker, Jeremy Levine and Peter Fenton.
YELP stock is up about 6% following the review site operator’s monster quarterly performance to close out its fiscal 2018. Shares had been dipping more than 1.2% during regular trading hours as the company readied itself to report its results.