A little while ago Yelp announced Q3 revenue and earnings. Results were mixed. The company posted strong revenue growth but missed analysts’ consensus earnings estimates.
The company reported revenues of $61.2 million in Q3, which represented 68% growth vs. a year ago. However there was a loss of $2.3 million (4 cents per share), up from $2 million a year ago. Higher sales and marketing expenses were blamed.
The stand-out statistic from the release was this: 62% of searches on Yelp were from mobile devices. In addition, “46% of local ads were shown on mobile devices.”
Sources of Yelp revenue
Below are some other highlights from the earnings release:
- Number of reviews: 47.3 million
- Global monthly uniques: 117 million
- Active local business accounts: 57,20o
- Total number of Yelp markets: 111
Separately Yelp reported on its annual Business Owner Summit. The company cited the following tools, developments and capabilities as having been generated through input and feedback from the Yelp Small Business Advisory Council:
- Yelp Metrics were launched to help business owners track customer leads
- Business owner review comments are now visible on mobile
- We developed a free Revenue Estimate tool to calculate the value of leads from Yelp
- Yelp hosted 40 workshops for business owners in cities across the US and Canada with more on the way for our international audience
- The customer activity feed was created to track when and how Yelp drives customers to businesses
- More performance based advertising options were rolled out