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Yelp Beats Expectations With $143.6 Million In Revenue, Transactions Way Up
Majority of new reviews come from mobile and 70 percent of mobile page views from company's app.
Yelp announced Q3 2015 earnings this afternoon. The company had better than expected quarterly revenues of $143.6 million versus analyst consensus estimates of $141.42 million. Earnings per share were $0.03, which was considerably better than the anticipated $0.09.
Yelp also offered better Q4 and full-year guidance than analysts had expected. The company said it should see between $545.5 and $551.5 million in full-year 2015 revenues.
Local ad revenue was $115.9 million for the quarter, which reflects 36 percent growth vs. last year. The company had roughly 104,000 active local advertising accounts during the quarter.
Transactions revenue was $12 million vs. $1.3 million a year ago. This was “primarily due to the acquisition of Eat24 in the first quarter of 2015.” Transactions activity (i.e., scheduling, reservations) was up across the site.
Yelp also reported 90 million reviews — 56 percent of new reviews coming from mobile — and 89 million mobile unique visitors. The company said that it had 20 million app users and that 70 of its page views came from the mobile app.