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Yelp Revenues up 67% in Q2 2012

Yelp Inc. (NYSE: YELP), a company that connects consumers with great local businesses, announced financial results for the second quarter ended June 30, 2012.

Net revenue was $32.7 million in the second quarter of 2012, reflecting 67% growth in net revenue from the second quarter of 2011.  Cumulative reviews grew 54% year over year to more than 30 million.  Average monthly unique visitors grew 52% year over year to more than 78 million. Active local business accounts grew 113% year over year to approximately 32,000

Net loss in the second quarter of 2012 was $(2.0) million or $(0.03) per share, compared to a net loss of $(1.2) million, or $(0.08) per share, in the second quarter of 2011. Adjusted EBITDA for the second quarter of 2012 was approximately $1.6 million, compared to $649,000 for the second quarter of 2011.

New market expansion:  Yelp launched 8 new markets in the second quarter including Denmark, Finland, Norway, Madison, Wisconsin, increasing the total active markets worldwide to 90.  Yelp opened a London office to ramp its sales efforts in Europe.

Business Outlook: For the third quarter of 2012, net revenue is expected to be in the range of $34.5 million to $35.5 million. Adjusted EBITDA is expected to be in the range of $750,000 to $1.25 million.  For the full year of 2012, net revenue is expected to be in the range of $135 million to $136 million, representing growth of 62% to 63% compared to the full year of 2011. Adjusted EBITDA is expected to be in the range of $3 million to $4 million.

Source:  Poten.com

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