Yelp Inc. (YELP) reported a first quarter net loss of $0.08 per share after the close Wednesday, compared to the loss of $0.31 per share last year. The consensus estimate was for a loss of $0.06. Net revenues grew 68 percent to $46.13 million from $27.39 million in the prior-year quarter. The consensus estimate was for revenues of $44.57 million.
Yelp forecasts revenues in a range of $52.5 million to $53.5 million in the second quarter and between $216 million and $218 million for the full year 2013. The consensus estimates are for revenues of $50.56 million and $211.81 million.
Yelp gapped up sharply Thursday and climbed during the first hour of trade. The stock took out the session highs going into the close and finished up by 6.92 at $32.22 on the highest volume of the year. Yelp surged past resistance and set a new all-time high.
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