Second-quarter profit boost Yelp shares

Shares of Yelp are surging 12% in morning trading Wednesday after posting a profit during its fiscal second quarter.

The company reported GAAP net income of $449,000, or a penny per share. Analysts polled by S&P Global Market Intelligence forecast a loss of 7 cents. The profit also represents a significant bump from a loss of $1.3 million during the same time last year.

Yelp co-founder and CEO Jeremy Stoppelman says local revenue growth was a big driver during the quarter, posting growth of 41% year over year.

"Our mission is to connect people with great local businesses and we did that through more than 300 million connections in the second quarter — which include mobile calls, clicks for map views and directions, food orders, restaurant reservations, and new reviews, among other actions," Stoppelman said in a statement.

Yelp reported second quarter revenue of $173.43 million, beating Wall Street estimates. Meanwhile, cumulative reviews of businesses jumped 30% compared to a year ago.

Follow Brett Molina on Twitter: @brettmolina23.