Yelp also announced second-quarter earnings on Thursday, handily beating analysts' estimates and turning an unanticipated profit. Yelp reported earnings of 9 cents per share on revenue of $209 million. That's up compared to earnings of 1 cent per share on revenue of $173.4 million in the year-ago period.
Analysts polled by Thomson Reuters expected a loss of 3 cents per share on revenues of $205 million.
Yelp saw double-digit increases in advertising and transaction revenue, while the number of reviews grew to about 135 million during the quarter. CEO Jeremy Stoppelman highlighted the company's mobile app, which is on 22 percent more devices than a year ago, as part of the driver of Yelp's growth.
The company expects the hot streak to continue. It forecast that it would have revenue of $855 million to $865 million for the full year, well above the $856 million midpoint analysts expected.
GrubHub also reported quarterly earnings that were in line with estimates on Thursday, and revenue that topped expectations. The company posted earnings of 26 cents per share, excluding items, on revenue of $159 million. Analysts expected earnings of 26 cents per share on revenue of $153 million.
GrubHub said that both the number of active diners on the platform and the value of food sold was up 20 percent or more compared with last year.