Two Big Earnings: Yelp Inc (NYSE:YELP) & Green Mountain Coffee Roasters (NASDAQ:GMCR)
Two Big Earnings: Yelp Inc (NYSE:YELP) & Green Mountain Coffee Roasters.(NASDAQ:GMCR)
Online review site Yelp Inc (NYSE:YELP) reported a second quarter loss that was lower than what analysts had forecast sending its shares soaring 8 percent in pre-market session.
The net loss was $1.98 million, or 3 cents a share against an estimate of 5 cents. Revenue rose 67 percent to $32.7 million, the company said yesterday in a statement, beating the average analyst prediction of $30.5 million.
During the quarter Yelp expanded into eight new markets such as Denmark, Finland and Norway expanding its user base. The company is now active in 90 markets worldwide.
Yelp is on an aggressive marketing drive and expenses on sales and marketing rose 65 percent to $203 million during the quarter.
A partnership with Apple to integrate local content onto its iPhones and iPads have also expanded its reach.
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) shares also went up 10 percent in pre-market trades with a spectacular 30 percent jump in net profit in the second quarter.
The bump-up in shares were also boosted on the company’s plan to repurchase shares from the market.
It earned $73.3 million, or 36 cents per share, in the June quarter, up 30 percent from $56.3 million, or 37 cents per share, in the same quarter last year. Revenue rose 21 percent to $869.2 million with stronger sales of its brewers and coffee pods but weaker revenue from royalties and other product sales.
The company forecast adjusted earnings between 45 and 50 cents per share for its fourth quarter on revenue of $889.9 million to $925.5 million.