Internet company Yelp (NYSE:YELP) managed to narrow its losses, but analysts expected more from its just-released Q4 and 2012 results.

For the quarter, net revenue grew by 65% on a year-over-year basis to $41 million. Losses came in at $5.3 million ($0.08 per diluted share), a better showing than in Q4 2011, when the company lost $9.0 million.

However, the average analyst estimate for the bottom line was a loss of only $0.04 per share, on revenue of $40 million.

For the full year, the company's top line also grew by 65% (to $138 million), while its loss deepened to $19 million from 2011's $17 million.

The company also issued guidance for future periods. It expects around $44.0 million to $44.5 million in net revenue this quarter, and adjusted EBITDA of $1.25 million to $1.50 million. The former broadly met analyst expectations, although the latter is below the $2.5 million the market had been anticipating.

Yelp is projecting $210 million to $212 million in revenue and adjusted EBITDA of $20 million to $22 million for fiscal 2013. Analysts had been expecting $207 million and $20.6 million, respectively.