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Yelp Posts Q2 Revenue Gain, Claims 78 Million Users Globally
Yelp just announced second quarter revenues of $32.7 million compared with $27.4 million last quarter. This beat analyst expectations. The company also said it had a net loss of $2 million compared to a loss of $1.2 million a year ago.
Yelp reported that revenues for the first two quarters this year grew significantly to $60 million vs. $36.1 million last year. However the 1H loss was $11.8 million vs. a loss of $3.9 for the first six months last year. This higher loss probably reflects Yelp’s ongoing expansion efforts.
Here are several other datapoints from the earnings release:
- Yelp now has 30 million reviews
- Monthly unique users are now 78 million
- Q2 saw 32,000 “active” local business accounts vs. 27,300 in Q1 (churn numbers are not reported)
Yelp launched eight new markets this past quarter, mostly in Europe. The company is now in 90 markets/cities globally. Yelp also reported that its mobile apps had been downloaded to 7.2 million “unique mobile devices”
Yelp expects Q3 revenue of between $34.5 million and $35.5 million. It expects full year revenue of roughly $136 million, which would constitute 62% growth vs. 2011.