Yelp Inc VELP shares are trading higher by $4.22 (20 percent) at $35.64 in Friday's session. The catalyst for the huge rally is a Q1 beat for EPS of $0.24, as well as a $3 million beat for revenues. The results were bolstered by strong gains in ad revenue.
The rally in the after-hours and pre-market session has carried over into the regular session. After a higher open, it retreated to $23.66 before resuming its move higher.
So far, it has reached $25.88 and is not far off the level. That marks the highest level for the issue since it reached $25.90 on January 8.
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