Social Media Stock News; Something to YELP about in Social Media Stocks

New York, NY - August 3, 2012 (InvestorIdeas.com Newswire) Investorideas.com staff reports on tech stocks. InvestorIdeas.com, a global investor research portal, specializing in sector research including tech stocks and social media stocks, reports on recent trading and news for YELP (NASDAQ:YELP). On Wednesday after the bell, the Company reported its second quarter results. In Thursday's trading session the stock gained 17%.

The stock is still rallying in this morning's trading with a morning high of $23.35. The stock has pulled back but is still in the green for investors. YELP (NASDAQ:YELP). and Linkedin.com (NASDAQ: LNKD) are both showing investors that there are still gains to be made in the sector, following the disappointment of Facebook's entrance to the market.
Second Quarter Summary:

• Net revenue was $32.7 million in the second quarter of 2012, reflecting 67% growth in net revenue from the second quarter of 2011
• Cumulative reviews grew 54% year over year to more than 30 million
• Average monthly unique visitors grew 52% year over year to more than 78 million*
• Active local business accounts grew 113% year over year to approximately 32,000

Net loss in the second quarter of 2012 was $(2.0) million or $(0.03) per share, compared to a net loss of $(1.2) million, or $(0.08) per share, in the second quarter of 2011. Adjusted EBITDA for the second quarter of 2012 was approximately $1.6 million, compared to $649,000 for the second quarter of 2011.
About Yelp:
Yelp Inc. connects people with great local businesses. Yelp was founded in San Francisco in July 2004. Since then, Yelp communities have taken root in major metros across the US, Canada, UK, Ireland, France, Germany, Austria, The Netherlands, Spain, Italy, Switzerland, Belgium, Australia, Sweden, Denmark, Norway and Finland. Yelp had a monthly average of approximately 71 million unique visitors in Q1 2012.** By the end of the same quarter, Yelpers had written approximately 27 million rich, local reviews, making Yelp the leading local guide for real word-of-mouth on everything from boutiques and mechanics to restaurants and dentists. Yelp's mobile applications were used on approximately 6.3 million unique mobile devices on a monthly average basis during Q1 2012.
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