Yelp Inc.'s first quarter as a public company was, if nothing to yelp home about, not worth a bad review either.
The online business review website brought in $27.4 million in revenue during the quarter, a 66% jump from $16.5 million during the same quarter last year. Yelp's 2012 projected revenue also beat analysts' expectations, with the company predicting it will make $128 million to $132 million -- higher than the $124.4-million average from analysts surveyed by Thomson Reuters.
But just weeks after it went public, Yelp continues to lose money at an increasing pace. It lost $9.83 million, or 31 cents per share, more than tripling its loss from the year-ago period.
Still, investors have taken a shine to the young business, and its stock rose 59 cents, or 2.61%, to $23.16 in regular trading and an additional 1.21% after hours.