SAN FRANCISCO (AP) _ Yelp Inc. (YELP) on Thursday reported a loss of $2.3 million in its first quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 3 cents. Earnings, adjusted for stock option expense, came to 30 cents per share.
The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The online business reviews company posted revenue of $223.1 million in the period, which also topped Street forecasts. Fifteen analysts surveyed by Zacks expected $220.1 million.
For the current quarter ending in July, Yelp said it expects revenue in the range of $230 million to $233 million. Analysts surveyed by Zacks had expected revenue of $220 million.
The company expects full-year revenue in the range of $943 million to $967 million.
Yelp shares have increased 14 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $47.74, a rise of 69 percent in the last 12 months.
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