Yelp swings to surprise profit, raises full-year revenue forecast

(Reuters) – Consumer review website operator Yelp Inc swung to an unexpected second-quarter profit and raised its full-year revenue forecast as investments in sales and marketing led to more businesses and consumers signing up for its services. The company also gave a better-than-expected revenue forecast for the current quarter and said it partnered with and made a small investment in Nowait, a mobile platform that allows restaurants to manage their waiting lists. Shares of Yelp, whose website and app allow users to rate restaurants and a variety of other businesses, jumped more than 13 percent to $35.90 in extended trading on Tuesday.

Original story here.

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