Shares of Yelp fall on weak earnings outlook

Shares of Yelp Inc. dropped 14 percent in extended trading Wednesday after the online business reviews site reported a loss of $1.3 million in its first quarter and gave a lower-than-expected revenue outlook. Yelp said the average monthly desktop unique visitors fell 3 percent to 80 million as more users browsed on smartphones and tablets. Average monthly mobile unique visitors rose 29 percent to 79 million. On a per-share basis, the San Francisco-based company lost 2 cents. Analysts surveyed by Zacks Investment Research forecast breakeven earnings per share, on average. Excluding stock option expense income totaled 10 cents per share. The online business reviews company posted revenue...