Yelp Reports Red Ink, But Meets Wall Street Expectations

By Cameron Scott 

yelp, recommendations, local search, mobile appsYelp, the recommendations provider that went public in March, announced a net loss of $2 million in the quarter ended September 30, shrinking its losses by nearly half in a year-over-year comparison.

The company brought in $36.4 million in total revenue, up 63 percent over the same quarter of last year, according to a filing with the Securities and Exchange Commission.

Its revenue numbers were ahead of what financial analysts expected, but revenue from sales was just off analyst expectations.

“These results demonstrate that our playbook continues to deliver growth across our markets. Additionally, our recent acquisition of Qype will accelerate our expansion into key international markets such as Germany and the U.K.,” Rob Krolik, Yelp’s chief financial officer, said in a statement.

In the third quarter, Yelp launched in Singapore, its first foothold in Asia. The company says that nearly half of its searches now come from mobile devices. Yelp ran on an average of 8 million mobile devices during the quarter and enjoyed more than 83 million unique visitors.

Still, a nine-month comparison of 2011 and 2012 the company provided shows that the company has boosted revenue, but losses have nearly doubled.

The company’s stock rose slightly in after-hours trading.