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Yelp’s sales climb along with mobile usage

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By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) — Yelp Inc. on Wednesday trimmed its second-quarter loss from a year ago as sales rose 69% and the online review and recommendation company reported gains in mobile usage and active business accounts.


After the close of trading, Yelp

/quotes/zigman/9021597/quotes/nls/yelp YELP

said it lost $878,000, or a penny a share, on revenue of $55 million for the quarter ended June 30. During the same period a year ago, Yelp lost $2 million, or 3 cents a share, on $32.7 million in sales.

Yelp shares rose 7% in after-hours trading as the company’s results topped the estimates of analysts surveyed by FactSet, who had forecast Yelp to lose 4 cents a share on sales of $53.3 million.

Yelp continued to see increased average monthly unique users, which rose 38% from a year ago to 108 million. Active local business accounts totaled 51,400, up by 62% from a year ago.

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The company also said that mobile usage continued to be one of Yelp’s main sources of growth, with the company’s mobile app being used on 10.4 million devices in the quarter. Yelp said 40% of its local ads were shown on mobile devices, while 59% of searches done on Yelp came from mobile devices.

For its third quarter, Yelp said it expects to report sales in a range of $58 million to $59 million, while analysts estimated revenue of $57.3 million. Yelp shares rose 5% in after-hours trading following the release of the company’s results.

Yelp also raised its full-year revenue outlook to a range of $222 million to $224 million from an earlier forecast of $216 million to $218 million.


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Rex Crum is a reporter for MarketWatch in San Francisco. Follow him on Twitter @mktwcrum.

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