Yelp (NYSE: YELP) reported second-quarter financial results after the regular trading hours on Thursday. The results were better than what the street had anticipated.
YELP shares rose 4% immediately following the announcement. The stock has declined 23% so far this year.
Yelp said in its letter to shareholders, “In late May, as local economies began to reopen and consumers and local businesses were adapting to the new “normal,” we saw both traffic and CPC advertising budgets begin to recover. In June, we continued to see steady improvements in ad budgets and increased retention, benefitting from a strong rate of return from customers who had received relief in April and May.”
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