Yelp released Q1 earnings this afternoon. Top-line results of $46 million beat analyst estimates. Yelp also offered strong guidance, above estimates, for next quarter: $52.5 million – $53.5 million.
Yelp reported a quarterly net loss of $4.8 million vs. $9.8 million in Q1 2012. The company anticipates FY 2013 revenues of $216 million – $218 million.
Yelp’s revenue growth YoY was 68%. Indeed, all the company’s metrics were up: reviews, uniques and advertiser counts (see below).
Yelp said that 36% of ads shown in Q1 were on mobile devices. The Yelp app was used on “10 million unique mobile devices” monthly in Q1. Although there are many more PC users globally (102 million monthly), approximately 45% of Yelp’s search query volume is now coming from mobile.
Below is the the current distribution of reviews on Yelp: