Yelp and SunPower released their latest earnings reports after closing bell tonight. Yelp posted losses of 3 cents per share on revenue of $143.6 million. Analysts had been looking for losses of 9 cents per share and $141.42 million in revenue. In last year’s third quarter, the company reported earnings of 5 cents per share and $102.5 million in revenue.
SunPower posted a surprise adjusted profit of 13 cents per share on $441.4 million in non-GAAP revenue. Analysts had been expecting losses of 3 cents per share and $428.85 million in revenue. In last year’s third quarter, the firm reported earnings of 30 cents per share and $662.7 million in revenue.
Yelp shares rise
Yelp’s adjusted EBITDA fell from $20.1 million last year to $12.5 million this year, while net losses were 11 cents per share or $8.1 million, compared to last year’s earnings of 5 cents per share or $3.6 million. Local ad revenue grew 39% to $115.9 million, while transactions revenue skyrocketed to $12 million due to the Eat24 acquisition. Brand ad revenue fell 4% to $9 million, while other revenue was flat year over year at $6.7 million.
The company reported a 35% increase in cumulative reviews, which brought them to about 90 million. App Unique Devices increased 39% to about 20 million on a monthly average basis. Yelp grew its local ad accounts 37%, bringing them to about 104,200. Yelp saw page views climb by almost 40% and Yelp Platform transactions rise by about 170% year over year.
Management said for the fourth quarter, net revenue should be between $149.5 million and $154.4 million and adjusted EBITDA of between $20 million and $24 million. For the full year, they expect net revenue of $545.5 million to $551.5 million and adjusted EBITDA of between $72 million and $76 million.
Shares of Yelp rose by as much as 3.62% to $22.90 per share in after-hours trades.
SunPower shares rise too
SunPower’s GAAP revenue fell from $662.7 million last year to $380.2 million this year, while GAAP gross margin edged upward to 16.5%. GAAP income plunged from 20 cents per share to losses of 41 cents per share for the third quarter, while EBITDA fell from $85.5 million to $54.2 million.
The solar company guided for non-GAAP revenue of between $1.25 billion and $1.3 billion, gross margin of between 28% and 29%, and EBITDA of $300 million to $325 million for the fourth quarter. SunPower expects to deploy between 275 megawatts and 305 megawatts during the quarter and GAAP revenue of between $300 million and $350 million.
For the full year, the company expects non-GAAP revenue of $2.5 billion to $2.55 billion, a gross margin of 23% to 24%, and earnings of between $1.95 and $2.05 per share. SunPower expects to deploy between 1.15 gigawatts and 1.18 gigawatts for the full year.
Shares of SunPower climbed by as much as 4.79% to $25.80 per share in after-hours trades.