Yelp (NYSE:YELP) earnings for the review website company’s third quarter of 2019 have YELP stock heading higher on Thursday. This is despite it reporting adjusted EPS of 17 cents, which is below Wall Street’s estimate of 19 cents for the quarter. However, the company’s revenue of $262.47 million does beat out analysts’ estimates of $262.25 million.
Let’s take a closer look at the most recent Yelp earnings report.
- Adjusted earnings per share for the quarter are the same as they were in Q3 2018.
- Revenue is up 8.86% from $241.1 million YoY.
- Income from operations of $9.55 million is 8% worse than $10.38 million in the same period of the year prior.
- The Yelp earnings report also has net income coming in at $10.06 million.
- This is a 32.89% drop from its net income of $14.99 million reported during the same time last year.
Jeremy Stoppelman, co-founder and CEO of the company, says this about the current YELP stock earnings.
“We are pleased to have reaccelerated revenue growth, while at the same time increasing Adjusted EBITDA margin, in the third quarter. We expect this momentum to continue in the fourth quarter, with revenue growing double-digits compared to the prior year and margin expanding significantly once again. These strong business fundamentals reinforce our confidence in our ability to achieve our long-term financial targets.”
YELP stock was up 10.29% in after-hours trading on Thursday. This more than erases the 7.92% drop is suffered from at market close.
As of this writing, William White did not hold a position in any of the aforementioned securities.