SAN FRANCISCO (AP) — Yelp Inc. (YELP) on Thursday reported fourth-quarter net income of $32.7 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 42 cents. Earnings, adjusted for one-time gains and costs, came to 24 cents per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The online business reviews company posted revenue of $109.9 million in the period, also exceeding Street forecasts. Analysts expected $108.5 million, according to Zacks.
For the year, the company reported net income of $36.5 million, or 48 cents per share, swinging to a profit in the period. Revenue was reported as $377.5 million.
For the current quarter ending in March, Yelp said it expects revenue in the range of $114 million to $116 million. Analysts surveyed by Zacks had expected revenue of $115.4 million.
The company expects full-year revenue in the range of $538 million to $543 million.
Yelp shares have risen 5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $57.47, a decrease of 24 percent in the last 12 months.