Yelp Inc. (YELP) on Thursday reported fourth-quarter net income of $8.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Francisco-based company said it had net income of 10 cents. Earnings, adjusted for one-time gains and costs, came to 27 cents per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The online business reviews company posted revenue of $194.8 million in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $194.3 million.
For the year, the company reported that its loss narrowed to $4.7 million, or 6 cents per share. Revenue was reported as $713.1 million.
For the current quarter ending in April, Yelp said it expects revenue in the range of $195 million to $199 million. Analysts surveyed by Zacks had expected revenue of $204.4 million.
The company expects full-year revenue in the range of $880 million to $900 million.
Yelp shares have climbed nearly 9 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $41.49, more than doubling in the last 12 months.
–The Associated Press