Yelp 2015 Revenue $550M, Projects Nearly $700M For 2016
Company reported 111,000 local advertising accounts, up from 19,000 in 2011.
Due to a coding glitch at PR Newswire, Yelp’s Q4 and full year 2015 results were released early, before the market’s close. The company announced a loss of $22.2 million but posted higher-than-expected revenues of $153.7 million. The stock was off roughly 10 percent in after-hours trading.
Local advertising revenue (small businesses) came in at roughly $126 million, which grew 35 percent year over year; 61 percent of that was PPC-based. Transactions revenue (largely Eat24) was $14 million versus $1.4 million a year ago. Brand ad revenue and “other revenue” combined for the remaining $14 million.
For the full year, revenue was $549.7 million, representing an increase of 46 percent versus $377.5 million in 2014. Yelp projected 2016 revenues to be between $685 million and $700 million. The company also announced that current CFO Rob Krolik would be leaving the company and that a search for a new CFO would begin immediately.
Yelp also released cumulative data since its 2011 IPO to demonstrate how much the company has grown. As indicated in the chart below, devices, reviews, claimed profiles and active local advertiser accounts were all up in triple digits since the IPO.
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