Yelp reported a net loss in its first quarter as a publicly traded company after aggressive expansion abroad led to a sharp increase in costs. The site, which provides online reviews of local businesses, released its earnings on Wednesday for its first ever fiscal quarter after filing its IPO. Yelp reported a net loss of $9.8 million, or 31 cents per share, more than triple its net loss of $2.7 million from the same time last year. Revenue was up from the same quarter a year ago, though, driven by growth in visitors to the site and its number of reviews.
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Growing Pains Lead Yelp to Loss
Posted by: Rachelle Dragani May 3, 2012 10:48 AMYelp reported a net loss in its first quarter as a publicly traded company after aggressive expansion abroad led to a sharp increase in costs. The site, which provides online reviews of local businesses, released its earnings on Wednesday for its first ever fiscal quarter after filing its IPO. Yelp reported a net loss of $9.8 million, or 31 cents per share, more than triple its net loss of $2.7 million from the same time last year. Revenue was up from the same quarter a year ago, though, driven by growth in visitors to the site and its number of reviews.