Yelp reports that revenue jumps 63 percent year over year
The leading local-reviews service says it had sales of $36.4 million in the third quarter, and that reviews were up 49 percent from the same quarter a year earlier.
Yelp today reported third-quarter sales of $36.4 million, up 63 percent from the same quarter a year earlier.
In its quarterly earnings release today, the leading online local-reviews service reported a net loss of $2 million, or 3 cents a share. Last year at this time, it reported a loss of $3.8 million, or 24 cents a share.
Yelp also said its cumulative number of reviews was up 49 percent from a year earlier and that it now has about 84 million unique monthly users, up 37 percent from the same time last year.
In its earnings release, Yelp said it had net revenues of $96.4 million for the first nine months of 2012, up 65 percent from $58.4 million in sales during the first nine months of 2011.
In a conference call about the earnings, CEO Jeremy Stoppelman touted Yelp's growth on mobile devices. He said Yelp's mobile apps had been used on about 8 million mobile devices each month during the third quarter, and that about 45 percent of all Yelp searches are now performed using the company's mobile apps.
Stoppelman also said that recent integration with Apple's iOS 6 -- the service is now officially tied to both Siri and Apple Maps -- had been particularly successful.
For the fourth quarter of this year, Yelp said it expects revenue in the $40 million to $40.5 million range, which would be an increase of 62 percent over Q4 a year earlier. And for 2012 as a whole, the company said it expects total revenue of between $136.4 million and $136.9 million, which would represent about 64 percent growth over 2011.