Updated from 8:13 a.m. EDT to include additional analyst comments in the 10th paragraph.NEW YORK ( TheStreet) -- Yelp's ( YELP) second-quarter earnings blew past Wall Street estimates, led by strength in active business accounts. For all those who thought Facebook ( FB) would derail the company's chances of succeeding, you're sorely mistaken. The San Francisco-based local business reviewer said it lost 1 cent per share on $55 million in revenue for the second quarter, well above what analysts were thinking. Analysts polled by Thomson Reuters were looking for a loss of 4 cents per share on $53.29 million in sales. Not only did the company show that its business did well, Yelp has confidence in its future, something analysts are noting. Oppenheimer analyst Jason Helfstein, who boosted his price target to $49 from $30, feels the company may be conservative about the future potential of the business, despite putting third-quarter and full-year estimates above what Wall Street is thinking. "Second-half revenue guidance conservatively assumes slower growth, but mgmt is raising EBITDA guidance by 25%," Helfstein wrote in his note. For the third quarter, Yelp expects sales to be between $58 million and $59 million, with adjusted EBITDA between $7.5 million and $8 million. Analysts surveyed were looking for $57 million. For fiscal 2013, Yelp anticipates revenue will be between $222 million and $224 million, with adjusted EBIDTA between $27 million and $28 million. Yelp, led by CEO Jeremy Stoppelman, is showing that any threat from Facebook's Graph Search, which is just starting to roll out to all of Facebook's 1.15 billion users, is vastly premature. The company's local ad growth continues to show exceptional strength, with average monthly visitors rising 38% to 108 million, and active local business accounts soaring 62% to 51,400. Cantor Fitzgerland analyst Youssef Squali, who rates shares "buy" with a $47 price target, said "The quarter saw a record number of new business paying accounts and growth from older cohorts continuing unabated." Following the quarter, Squali raised his revenue, EBITDA and earnings estimates for fiscal 2013. He now expects the company to generate $223.8 million in revenue, EBITDA of $28.2 million, while losing 12 cents per share.
-- Written by Chris Ciaccia in New York >Contact by Email. Follow @Chris_Ciaccia