Yelp revenues up 67%, with distribution on mobile and with partners being the key to growth
Skift Take
Now that it is in saturation mode in major U.S. markets, the key to growth is mid-market destinations and abroad, as well as better integration and distribution on mobile platforms.
Yelp reported its second ever earnings since becoming public, and had a good Q2: revenues rose to $32.7 million from $19.6 million last year, up 67%, though net losses came in at $2 million, higher than $1.2 million the year ago but better than analyst expectations. It also raised its full year expectations, and Yelp's stock is up after hours.
The skinny: it is expanding into lots of new markets, and its mobile usage is increasing rapidly. In the next few quarters, key metric would be to see how its new deals with Bing and Apple iOS work out, in terms of usage metrics and revenues.
Release below:
Yelp Announces Second Quarter 2012 Financial Results
Net Revenue Increases 67% Over Second Quarter 2011
SAN FRANCISCO, Aug. 1, 2012 /PRNewswire/ -- Yelp Inc. (NYSE: YELP), the company that connects consumers with great local businesses, today announced financial results for the second quarter ended June 30, 2012.
(Logo: http://photos.prnewswire.com/prnh/20050511
