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Yelp Q2 Surges 19%: Sells ‘Eat24′ to GrubHub, Sets $200M Buyback

Local listings and reviewers purveyors Yelp (YELP) this afternoon reported Q2 revenue and profit that topped analysts' expectations, raised its year outlook, announced a partnership with GrubHub (GRUB), and said its board of directors authorized a $200-million share buyback, all of which sent the stock sharply higher in late trading.

Yelp said it will sell its "Eat24" unit for $287.5 million to GrubHub; it said the database of the unit, combined with GrubHub, "will form the largest network of...