Why Yelp Shares Are Rising

Yelp Inc YELP shares are trading higher by 6.4% at $36.72 Friday morning after the company reported better-than-expected fourth-quarter EPS and sales results and issued FY22 net sales guidance.

Yelp reported quarterly earnings of 30 cents per share which beat the analyst consensus estimate of 14 cents by 114.29 percent. The company reported quarterly sales of $273.40 million which beat the analyst consensus estimate of $272.11 million.

“After entering 2021 as a structurally stronger business, our elevated pace of product innovation, together with the consistent execution of our strategic initiatives led us to deliver strong year-end financial results,” said Jeremy Stoppelman, Yelp’s co-founder and chief executive officer.

“Net revenue surpassed pre-pandemic levels, driven by record Advertising revenue from our services categories and our multi-location and self-serve channels. Looking ahead, we believe that connecting consumers with great local businesses through trusted content will be even more relevant to a broader audience, and we plan to keep investing in the Yelp product experience to position our business for profitable growth over the long term,” Stoppelman stated.

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Yelp has a 52-week high of $43.86 and a 52-week low of $31.60.