Yelp Inc (NYSE:YELP)’s global play tops analysts’ estimates in Q2
Yelp Inc (NYSE:YELP)’s Q2 earnings report has some pretty interesting news. The company achieved considerable growth with the integration of traffic from Italy and Spain and Qype content from France. It launched 6 new Yelp markets. These included 2 domestic and 4 international ones. This has added on a huge volume of new local business across the world.
For the quarter, the company’s overall revenue was $55M which was way above the $46.1m that was clocked in the 2013 Q1. The net revenue projection for the Q3 is expected to be in the $58M-$59M range. The Q2 net loss was a minimal $878,000.
Cumulative reviews were 42.5M and there was an average of 108M, monthly unique-visitors for the months of April, May and June. Around 10% of the unique were derived from mobile. The company showed very strong growth and all the mentioned figures are a representation of global markets which showed a significant y-o-y growth. In the quarter, YELP’s mobile business gained some momentum as 40 percent of local ad-impressions took place on the mobile platform.
The company reported adjusted earnings of $7.8M in comparison to the $1.6M that they stood at a year ago in the same quarter. Year-over-year, there was a 51.5% increase to $30.8M, in marketing and sales expenses while product-development costs rose 70.2% from the same quarter in 2012, to $10.1M. There was a 70.2% to $10.1M rise in administrative and general expense from the same quarter a year ago.
Yelp Inc (NYSE:YELP) has projected that the Q3 revenue will be $58M-$59M. The average analyst estimate is $57.4M. The projected annual sales are $222M-$224M, in comparison with the average analyst estimate of $219.8M. In the Q4, the company has search-ads to its mobile app. In the first quarter of 2013, display ads had been added.