Home Stock Market Yelp shares leap 6% after leap in gross sales, earnings

Yelp shares leap 6% after leap in gross sales, earnings

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Shares of Yelp Inc. jumped 6% in after-hours buying and selling Tuesday after the corporate reported better-than-expected gross sales and earnings.

The San Francisco-based e-commerce platform mentioned it earned $21.1 million, or 27 cents a share, in opposition to expectations of a breakeven quarter, in line with analysts polled by FactSet. Yelp’s income improved 15% to $233.2 million, beating estimates of $228.2 million.

“2020 was a transformational yr for Yelp,” Jeremy Stoppelman, Yelp’s co-founder and chief govt, mentioned in a press release. “We preserved our monetary power all through the pandemic as we elevated the tempo of product innovation to assist customers and native companies keep related, whereas persevering with to make important progress on our long-term technique.”

Yelp shares
YELP,
+2.18%

have climbed 11% over the previous 12 months, whereas the broader S&P 500 index
SPX,
-0.11%

has superior 16.5% the previous yr.

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