Yelp Posts 55 Percent Revenue Growth ($118.5M) But Disappoints Investors

Yelp announced Q1 earnings this afternoon of $118.5 million, which was 55 percent growth over Q1 2014. However the market had expected revenues $119.8 million.

There was a net loss of $(1.3) million, or $(0.02) per share, which was better than the previous year’s loss of $(2.6) million, or $(0.04) per share. However the market had expected a $(0.01) per share loss instead.

Like Twitter yesterday, Yelp also reduced its outlook slightly, disappointing investors. The stock is now down roughly 15 percent in after-hours trading. 

Here are some of the facts from the earnings release:

• Reviews stand at 77 million (with 6 million generated in Q1)
• Average mobile monthly uniques: 79 million (+ 29 percent)
• PC uniques 80 million (- 3 percent)
• Total monthly users: 142 million
• Local advertiser accounts: 90, 200
• Restaurants covered by SeatMe and Yelp Reservations: 12,000

Revenues:

• Local advertising revenue: $98.6 million (+ 51 percent)
• Brand ad revenue: $6.6 million (- 11 percent)
• Other revenue: $13.3 million
• Eat24 contributed $5 million in Q1 revenue

Yelp projects full year revenues of $574 million to $579 million.