Yelp (NYSE:YELP) reported earnings yesterday, and investors and analysts alike have embraced the news. Shares have jumped as much as 26% higher today.

Yelp's second-quarter earnings exceeded analysts' expectations, as the company posted a loss of just $0.01 per share and sales growth of 68%. The company also posted strong growth in mobile ads. Analysts including J.P. Morgan, Oppenheimer, and Wunderlich have all upgraded the stock as a result.

Motley Fool analyst David Hanson breaks down the quarterly report for investors, and notes Yelp still has avenues for growth. Only 2% of businesses have claimed their profiles, so there's still a long runway for this company.