Yelp to sell Eat24 to GrubHub under strategic alliance

Investing.com - (NYSE:Yelp) is selling its Eat24 business to (NYSE:GrubHub) for $287.5 million.The deal is part of a strategic alliance with GrubHub allowing Yelp to expand its online ordering capabilities.Yelp bought Eat24 for $134 million in 2015.Yelp Thursday reported second quarter earnings per share of 25 cents.That sailed past a forecast of a loss of 2 cents per share.Revenues were up 20% at $208.9 million, beating an estimate of $204.9 million.CEO Jeremy Stoppelman pointed to strong growth in app usage and advertiser accounts.Yelp shares rose over 18% Thursday in after-hours trade.rade.