Yelp Hits $36.4 Million In Q3 Revenues
Yelp has announced their Q3 2012 earnings and revenue has increase 63% since one year ago. Earnings per share for the quarter was $0.24. The company posted a $2 million loss and reported the $50 million acquisition for Qype.
Analysts were expecting worse. Reviews on the website have grown 49% year-over-year to over 33 million. Monthly unique visits grew 37% year-over-year to 84 million. And there was 82% growth in the website, which brought the total number to 35,500.
Yelp’s $2 million loss amounted to $0.03 per share compared to a net loss of $3.8 million (or $0.24 per share). The adjusted EBITDA was around $2.2 million compared to the $882,000 loss in Q3 2011.
“Our innovative drive and focus on community are key to capturing the opportunity before us. Mobile remains a top priority and we expect it to be a key driver of engagement and success in the future. As we continue to build Yelp communities around the world and connect consumers with great local businesses, we further fulfill our mission to be the de facto local search engine,” stated Yelp CEO Jeremy Stoppelman.
[TNW]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry