NEW YORK (TheStreet) -- Yelp
(YELP) reported its first quarter after the bell Wednesday, posting a narrower-than-expected net loss and double-digit sales growth.
After the bell, shares had climbed 4.6% to $61.
Over the three months to March, the online reviews site recorded a net loss of $2.6 million, or 4 cents a share, around half losses of $4.8 million, or 8 cents a share, a year earlier. Revenue spiked 66% to $76.4 million.
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Analysts surveyed by Thomson Reuters
had forecast a net loss of 6 cents a share and revenue of $75.06 million.
For its second quarter, revenue is expected in the range of $85 million to $86 million, or around 55% growth on the year-ago quarter. Full-year revenue is expected between $363 million and $367 million, representing 57% growth.
Analysts expected second-quarter sales of $85.44 million and full-year sales of $358.91 million.
TheStreet Ratings team rates YELP INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate YELP INC (YELP) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The area that we feel has been the company's primary weakness has been its disappointing return on equity."
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