* 1st-qtr loss/share $0.08 vs estimates loss/share $0.06
* Revenue up 68 pct at $46.1 mln vs estimates $44.6 mln
* Sees 2nd-qtr revenue $52.5 mln-$53.5 mln vs est $50.6 mln
* Shares up 10 pct after market
(Adds comments from conference call and analyst; updates
By Chandni Doulatramani
May 1 Consumer review website Yelp Inc
reported quarterly results ahead of analysts' estimates, helped
by strength in its local and mobile advertising businesses, and
it forecast second-quarter revenue above expectations.
Yelp shares were up 10 percent in after-market trading after
closing at $25.30 on the New York Stock Exchange. The shares
have risen 20 percent in the last three months.
The company expects second-quarter revenue in the range of
$52.5 million to $53.5 million, above the average analyst
expectation of $50.6 million.
Yelp has been facing tough competition from Facebook Inc
after the social networking company unveiled in January a
search feature that enables users to trawl their network of
friends to find everything from restaurants to movie
Yelp said it got 36 percent of its local ads from mobile
devices, and that it launched display ads on mobile phones in
the first quarter. The company said it gets about 45 percent of
its search from its mobile app, and about 56 percent from the
app as well as Web.
The mobile app helps people to discover local businesses. It
combines Yelp's reviews and other relevant information with
knowledge of the user's location.
Yelp expects to further benefit from mobile ads as it
focuses more on the platform.
The company said it gets more than half of its traffic from
Google Inc's search engine, but it also gets a good
number of referrals from Apple Inc.
"Engagement on mobile appears to be going in the right
direction. Mobile theoretically is the most natural platform for
them to be successful on," National Alliance Securities analyst
Mike Hickey told Reuters.
He said if a user is looking for a restaurant, there are
more chances he will be on the move, and is more likely to use
his mobile to search for restaurants.
The company, which went public in March last year, was
founded by former PayPal engineers Jeremy Stoppelman and Russel
Simmons as a start-up in 2004.
Yelp said earlier on Wednesday that it launched its services
in New Zealand and it planned to expand further internationally.
The company received about 6 percent of its revenue from
international markets in the first quarter.
Net loss narrowed to $4.8 million, or 8 cents per share, in
the quarter ended March 31, from $9.8 million, or 31 cents per
share, a year earlier.
Revenue rose about 68 percent to $46.1 million.
Analysts had expected a loss of 6 cents per share on revenue
of $44.6 million, according to Thomson Reuters I/B/E/S.
Active local business accounts rose 63 percent, while
average monthly unique visitors increased 43 percent.
Yelp got about 79 percent of its total revenue of $137.6
million from local ads in 2012.
(Reporting by Chandni Doulatramani in Bangalore; Editing by