Yelp Posts Narrower Q2 Loss; Boosts FY13 Revenue Outlook

(RTTNews) - Yelp Inc. (YELP) reported a net loss for the second quarter of $878,000 or $0.01 per share, compared to a net loss of $2.0 million or $0.03 per share for the year-ago quarter.

Net revenue for the second quarter rose 69% to $55.32 million from $32.65 million a year ago.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.04 per share on revenue of 453.29 million for the second quarter

Looking forward, the company forecasts third quarter revenue of $58 million to $59 million.

At the same time, the company raised its full year revenue guidance to a range of $222 million to $224 million from its prior guidance of $216 million to $218 million.

Analysts currently expect the company to post revenue of $57.43 million for the third quarter and $219.88 million for the full year 2013.