Yelp stock surged Friday after reporting its fourth-quarter results that topped estimates, as did its full-year outlook on revenue.
After the market close Thursday, Yelp reported adjusted earnings of 30 cents a share on revenue of $273.4 million. By comparison, analysts expected Yelp to report earnings of 14 cents per share on revenue of $272.1 million, according to FactSet. Revenue climbed 18% from the year-ago period.
Yelp stock climbed 4.1% to close at 35.93 on the stock market today.
The company expects revenue this year to be in the range of $1.16 billion to $1.18 billion. The midpoint of $1.17 billion is above analyst estimates for $1.16 billion.
Yelp Stock: Revenue Passes Pre-Pandemic Levels
Yelp provides an internet platform where users publish crowd-sourced reviews about businesses.
"Net revenue surpassed pre-pandemic levels, driven by record advertising revenue from our services categories and our multi-location and self-serve channels," said Jeremy Stoppelman, Yelp co-founder and chief executive, in written remarks with the Yelp earnings release.
Chief Financial Officer David Schwarzbach added: "Yelp achieved a record annual adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) margin of 24% in 2021, even as we increased our strategic investments throughout the year."
Yelp stock currently trades near its 50-day moving average. However, it's trading below the 200-day line.
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