Yelp's Q3 Results, Guidance Look Strong

Yelp Inc. YELP delivered strong results for the third quarter. The company provided strong forecast for the fourth quarter and full year.

• Reports adjusted EPS of $0.22, beats by $0.25.
• Delivers revenue of $186.2 million, exceeds by $3.18 million.
• Cumulative reviews increased 29 percent to about 115 million.
• Expects revenue between $191 and $195 million for the fourth quarter versus $192.70 million estimations.
• Full year revenue is forecast at $709-$713 million versus $707.97 million expectations.

Yelp's co-founder and CEO, Jeremy Stoppelman, commented, "We continue to pursue our mission of connecting consumers with great local businesses everywhere, and our local business in the U.S. has accelerated this year. We have not yet achieved the same level of traction internationally and we have decided to redirect our resources towards the domestic opportunity for now. This was not an easy decision as it affects our valued colleagues abroad, however it allows us to sharpen our focus on the large, profitable and rapidly growing domestic business."

Following this, the stock jumped 9.08 percent to $35.43 in the pre-market session.