Mobile revenues on the upward trajectory, but how high can they go
Navi Mumbai, Maharashtra — (SBWIRE) — 09/09/2013 — Close on the heels of an exciting second quarter, San Francisco-based Yelp recently announced the launch of Yelp Brazil to cater to that market. With over 100 million monthly visitors, they look to be heading in only one direction: Up. However, the key question remains, can they continue the momentum?
Key highlights from their second quarter included the 69% year-over-year revenue growth to $55 million, 41% y-o-y growth in cumulative reviews and average monthly unique visitors’ growth of 38% y-o-y to roughly 108 million. At Yelp’s Q2 earnings conference call, Co-founder and CEO Jeremy Stoppelman spoke about 3 key areas where they are making significant strides: Mobile, European expansion and closing the loop with local businesses.
On mobile, he went on to say that “in the second quarter approximately 40% of our local ad impressions were on mobile. Together our app and mobile site accounted for 59% of all searches including approximately 46% just from the app”.
While their growing mobile reach is definitely a plus point, they are also noticing increased traction in brand awareness, especially in Europe. Later in the Q2 call, Yelp’s CFO Rob Krolik gave a detailed breakout of key revenue generating areas, including local revenue which was significantly up 77% year-over-year to 44.8 million. He also gave out the raised full year 2013 guidance for revenues to range from $222 million to $224 million or approximately 62% growth year-over-year.
Further details and the complete speech of CEO Jeremy Stoppelman and CFO Rob Krolik can be found in the transcript of the Q2 call here.
Post their earnings call, Yelp next presented at the Oppenheimer 16th Annual Technology, Internet & Communications Conference in August. Earnings Impact had also covered this event, the complete transcript of which can be found here.
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