Yelp Posts Surprise Q2 Profit

(RTTNews) - Yelp Inc. (YELP) reported net income for the second quarter of $2.7 million, or $0.04 per share, compared to a net loss of $0.9 million or $0.01 per share for the year-ago quarter.

Net revenue for the second quarter jumped 61% to $88.79 million from $55.02 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share on revenue of $86.32 million for the second quarter.

Looking forward, the company forecasts third quarter net revenue to be in the range of $98 million to $99 million.

The company raised its full year 2014 net revenue outlook to a range of $372 million to $375 million from its prior outlook of $363 million to $367 million.

Analysts currently expect the company to post revenue of $95.42 million for the third quarter and $365.94 million for the full year 2014.