Yelp Has Strong Q3, 45 Percent Of Reviews Now From Mobile
Revs were $102.5M for the quarter, expected to be $375M for year.
This afternoon Yelp announced revenue of $102.5 million for third quarter, which represented 67 percent growth vs. last year. Revenues and earnings per share both beat Wall Street estimates.
However the stock is down after hours because Q4 guidance wasn’t as strong as investors had hoped. The company said it expected between $107 million and $108 million in Q4 revenue. Full year revenue was projected to be between $375 million and $376 million.
Below are some numbers from the earnings release:
- Yelp now in 29 countries
- Total reviews on Yelp: 67 million
- New reviews in Q3: 5.3 million, 45 percent of which came via mobile devices
- Average monthly unique visitors 139 million
- Average monthly mobile unique visitors 73 million
- Active advertisers 86,200
Earlier this week Yelp added hotel booking to its list of transaction/scheduling capabilities via Yelp Platform. The company said that its booking capabilities now include 28,000 business locations and that 50 percent of bookings happen through its mobile app.