Yelp Inc (NYSE:YELP) released the earnings results from its December quarter, posting losses of 3 cents per share on revenue of $70.7 million. Analysts had been expecting the company to report a loss of 4 cents per share on revenue of $67.22 million.
Yelp Inc (NYSE:YELP)’s revenue reflected 72% growth year over year. Adjusted EBITDA for the fourth quarter was about $10.4 million, compared to $1.8 million in the same quarter a year ago. For the full year, Yelp Inc (NYSE:YELP) reported $233 million in net revenue, a 69% increase year over year. Net losses for the full year were 15 cents per share, compared to losses of 35 cents per share in the previous year.
Yelp updates initiatives
The company launched new features like the revamped Nearby function and mobile reviews. It reported 53 million mobile unique visitors, including both mobile web and app users. Also 30% of new reviews came from mobile devices.
Yelp Inc (NYSE:YELP) launched some new products last year as well, including Revenue Estimator, Call to Action, Customer Activity Feed and Yelp Platform, which the company said now generates more than 10,000 food orders every week. The company also acquired reservation solution SeatMe and integrated Qype, migrating 1.8 million reviews and 1.4 million photos into Yelp from Qype Germany. The company’s services are now available in 24 different countries on five continents.
Yelp reports on engagement, guides for 2014
Yelp Inc (NYSE:YELP) also reported that cumulative reviews rose 47% year over year to about 53 million. Average monthly unique visitors rose 39% year over year to about 120 million in the quarter. Active local business accounts also rose, climbing 69% year over year to about 67,000.
The company also provided guidance for the first quarter and the full 2014 fiscal year. It expects net revenue to be between $73.5 million and $74.5 million for the current quarter, which would represent about 60% growth. Yelp Inc (NYSE:YELP) expects adjusted EBITDA to be between $8 million and $9 million.
For the full year, it expects net revenue to be between $353 million and $358 million and adjusted EBITDA to be between $54 million and $58 million.