NEW YORK (TheStreet) -- Shares of Yelp (YELP) were soaring 14.81% to $37.39 in early morning trading on Wednesday after the company reported an unexpected profit for the 2016 third quarter and gave an upbeat full-year revenue forecast.
Before today's opening bell, the San Francisco-based consumer review website posted adjusted earnings of 22 cents per share. Analysts were looking for a loss of 3 cents per share.
Revenue gained 30% year-over-year to $186.2 million and topped Wall Street's projections of $182.9 million, according to FactSet.
Cumulative reviews rose 29% over last year to about 115 million.
For the full year, the company anticipates revenue of $709 million to $713 million. Wall Street is modeling revenue of $708 million for the year.
For the fourth quarter, Yelp expects revenue between $191 million and $195 million. Analysts are looking for revenue of $193 million.
The company plans to wind down its sales and marketing activities outside the U.S. and Canada in the upcoming months.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D.
Among the areas we feel are negative, one of the most important has been an overall disappointing return on equity.
You can view the full analysis from the report here: YELP