Yelp reduces loss in first quarter; revenue up

Investors seem to be giving first quarter earnings for Yelp positive reviews.

Shares of the online review company are up 6% after reporting quarterly revenue of $46.1 million, a 68% surge from a year ago.

The site's average monthly unique visitors also soared 43% from last year to 102 million. Yelp also reports a 42% bump in site reviews.

Yelp reports a net loss of $4.8 million, which missed analyst estimates but still topped the $9.8 million loss from a year before.

"We had a great start to the year and are excited about the large opportunity in front of us," said Jeremy Stoppelman, Yelp's chief executive officer, in a statement.

The company also announced it is expanding to New Zealand. The service is now available in 21 countries.