NEW YORK (TheStreet) - Yelp (YELP - Get Report) was jumping more than 7% in after-market trading on Wednesday after the online all-purpose guide beat Wall Street's revenue forecast and delivered robust guidance.
The San Francisco-based firm reported revenue of $70.7 million, a 72% hike on the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for sales of $67.22 million.
Yelp posted a loss of 3 cents a share on a net loss of $2.1 million, compared to a loss of 8 cents a share and a net loss of $5.3 million in the same period last year. Wall Street expected a loss of 2 cents a share.
The company's cumulative reviews climbed 47% year over year to 53 million and the company's average monthly unique visitors grew 39% year over year to approximately 120 million.The numbers pushed Yelp shares up 7.28% to $80.71 in extended trading. "2013 was an outstanding year for Yelp," said Jeremy Stoppelman, Yelp's CEO, in a statement released after market close. "We enhanced the mobile experience, brought on thousands of new local business customers and completed the integration of Qype, which accelerated our European expansion. Looking to 2014, we will continue our geographic expansion, add new products and programs for our community of writers and find even more ways to drive value to business owners. For its fiscal first quarter, Yelp expects revenue between $73.5 million and $74.5 million, comfortably above analysts' forecast of $73.25 million. For fiscal 2014, the company predicts revenue between $353 million and $358 million. Analysts surveyed by Thomson Reuters are looking for sales of $347.85 million. --Written by James Rogers in New York. Follow @jamesjrogers >Contact by Email.
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