Today after the bell Yelp reported its second-quarter financial performance, including revenue of $88.79 million, and a profit of $0.04 per share. The company had net income of $2.7 million in the period, up from a $878,000 loss in the year-ago quarter.
Investors had expected Yelp to lose 3 cents per share on revenue of $86.32 million. The company’s revenue tally for its most recent quarter is up 61 percent on a year-over-year basis.
In its sequentially preceding quarter, Yelp reported $76.4 million in revenue, and a 4 cent per-share loss. Yelp was up just under 9 percent in regular trading. Following its earnings beat, Yelp is up nearly 6 percent in after-hours trading.
The company also reported strong guidance for its third quarter, with revenues forecasted to land in the $98 to $99 million range.
Investors appear enthusiastic with the company’s results. For the first half of 2014, Yelp’s revenues rose 63 percent when compared to the same period of 2013. For a company of Yelp’s age, that’s quick revenue expansion.
Want a vanity metric? Yelp now has 61 million reviews on its service, up 44% year-over-year. The company also reported that it saw its average monthly unique visitors grow 27% compared to the year-ago period. Mobile traffic grew even more.