Yelp Inc. (NYSE: YELP) reported its first-quarter financial results after the markets closed on Thursday. Despite the company posting a loss for the quarter, it was not as bad as analysts initially estimated and this thrilled investors. As a result, analysts raised their price targets for Yelp.
24/7 Wall St. has included some highlights from the earnings report, as well as what analysts are saying about Yelp after the report.
The company said it had a net loss of $0.08 per share on $158.6 million in revenue. That compared to consensus estimates of a net loss of $0.15 per share on $155.6 million in revenue.
In the first quarter, Local revenue totaled $138.1 million, an increase of 40% from the same period in the previous year. Apart from this, Transactions revenue totaled $14.5 million, versus $6.6 million last year, primarily due to the Eat24 acquisition.
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