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.

David Hanson owns shares of Zillow. Erin Kennedy has no position in any stocks mentioned. The Motley Fool recommends Facebook and Zillow. The Motley Fool owns shares of Facebook and Zillow. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.