(Updates from 12:24 p.m. ET with closing information.)
For the three months ended in March, Yelp's revenue rose 68% year-over-year to $46.1 million, ahead of the $44.5 million expected by Wall Street. In the company's press release, CEO Jeremy Stoppelman said, "we saw record quarterly increases in absolute numbers in both the number of businesses that claimed their Yelp page and the increase in the number of paying local advertisers."
Facebook (FB) shares rose 3.72% to $28.45 after the social networking giant beat revenue expectations, and continued to demonstrate strength in mobile revenue. For the first-quarter, Facebook earned 12 cents a share on revenue of $1.46 billion, an increase of 38% year over year. About 30% of total advertising revenue came from mobile, and beat Wall Street expectations of $374 million in mobile revenue. The Menlo Park, Calif.-based company was expected to earn 13 cents on a non-GAAP basis, with revenue coming in at $1.44 billion, according to analysts polled by Thomson Reuters.
Intel (INTC) shares were at $24.02, up 0.12%, after the semiconductor giant said Brian Krzanich, its chief operating officer, would replace outgoing CEO Paul Otellini later this month. Krzanich, a 31-year Intel veteran, has been operating chief since January 2012. Intel's recent CEOs have held the COO office, including Andy Grove, Craig Barrett and lastly, Otellini. Intel also announced that Renee James would be Intel's president. James was previously the chief of staff when Grove was Intel's CEO. "Brian is a strong leader with a passion for technology and deep understanding of the business," said Intel Chairman Andy Bryant, in a statement. "He has the right combination of knowledge, depth and experience to lead the company during this period of rapid technology and industry change."
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