Yelp Inc. Surges, The Walt Disney Co Falls On Earnings
Yelp (YELP) and The Walt Disney Company (DIS) 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.
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.
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.
Disclosure: This article is NOT an investment recommendation, more
#Disney's "Parks and Resorts revenue increased 6% to $4.4 billion." Not unusual to have a nice increase over the summer, but with all the bad PR they've received over their negligence in allowing an alligator to kill a visiting child, I expected $DIS's next quarter won't be nearly as impressive.