Yelp Inc Surges, The Walt Disney Co Falls On Earnings

Yelp and The Walt Disney Company released their latest earnings estimates after closing bell tonight. Yelp posted GAAP earnings of 1 cent per share and non-GAAP earnings of 16 cents per share on $173.4 million in revenue for its second quarter, compared to the consensus estimates of losses of 7 cents per share on $169.8 million in revenue. In last year’s second quarter, the company posted GAAP losses of 2 cents per share and non-GAAP earnings of 12 cents per share on $133.9 million in revenue. Yelp had guided for revenue of $167 million to $171 million.

Walt Disney reported adjusted earnings of $1.62 per share on $14.3 billion in revenue for its third fiscal quarter, compared to Wall Street’s expectations of $1.61 per share in earnings and $14.15 billion in revenue. In the year-ago quarter, the company reported earnings of $1.45 per share on $13.1 billion in revenue.

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Yelp issues strong guidance

Yelp’s adjusted EBITDA rose to $28.1 million from $22.7 million. The number of cumulative reviews increased 30% to about $108 million, while the number of unique devices increased 27% to about 23 million on a monthly average basis. The company grew its local ad accounts 32% to about 128,000. Local revenue grew 41% to $151.9 million, while transactions revenue increased 37% to $15.5 million.

Yelp also surprised investors with its strong guidance. The company expects third quarter revenue to be between $180 million and $184 million, blowing the consensus of $179.7 million out of the water. For the full year, Yelp expects revenue to be between $700 million and $708 million, again beating the consensus of $699.8 million.

Shares of Yelp surged by more than 6% in after-hours trades, climbing to as high as $34.75 following tonight’s results.

The Walt Disney Company

Walt Disney slips after earnings

Walt Disney’s GAAP earnings rose to $1.59 per share from $1.45 per share last year. The company’s Media Network’s revenues grew 2% to $5.9 billion, while Parks and Resorts revenue increased 6% to $4.4 billion. Studio Entertainment revenue soared 40% to $2.85 billion, while Consumer Products & Interactive Media revenue declined 1% to $1.1 billion.

Shares of The Walt Disney Company declined by more than 1% to as low as $95.53 in after-hours trades after tonight’s earnings release.