Actionable news
All posts from Actionable news
Actionable news in YELP: YELP Inc,

Jim Cramer Says Yelp 'Got Mobile Right'

Shares of Yelp Inc YELP 23.3% were trading higher by 20 percent Friday after the company reported its first quarter results.

Yelp reported in its quarterly print that around 21 million unique devices accessed Yelp through a mobile app on a monthly average basis in the first quarter. The company noted this represents an increase of 32 percent compared to the same quarter a year ago. In addition, app users viewed approximately 70 percent of page views in the quarter and were more than 10 times as engaged versus desktop users.

Related Link:Yelp Posts Strong Gains On Growing Ad Revenue

Jim Cramer commented on Yelp's quarterly print, noting that the company not only "delivered," but it "got mobile right."

"Once you get mobile right, you can really start to do well," Cramer said on CNBC. He emphasized that finally, "They got mobile right."

Cramer continued and pointed out that Yelp's local revenue rose 42 percent in the quarter. He added that this is "where the money is" for Yelp and that finally, "local merchants are liking [Yelp's platform] more."

Cramer acknowledged he has previously been critical of Yelp's business. However, when a 42 percent revenue gain in local advertising is a "huge win."

© 2016 Benzinga does not provide investment advice. All rights reserved.