Yelp Inc (YELP) Looks To Drive Mobile Engagement For Everyday Consumer Needs
Yelp Inc (NYSE:YELP) CEO, Jeremy Stoppelman, said that the company would be looking to take advantage of its growth in the mobile space. As a result, the company was looking to drive mobile engagement in the current year making it more useful for day-today consumer needs. This apart, the initiative would also improve the awareness among its consumers, which would help its advertisers to measure ROI.
The CEO said that Yelp Inc (NYSE:YELP) was looking at the big market opportunity lying ahead of it and wanted to capture as much advertising spend as possible as the trend was moving towards online. The company has already expanded its geographical footprint and established fresh ways to communicate the precious leads that Yelp delivers to its domestic businesses.
Key Takeaways From 4Q
The company disclosed that its cumulative reviews advanced 35% to about 71 million from the last year fourth quarter period. Its average monthly unique visitors increased to about 135 million. Similarly, average monthly mobile unique visitor generated YOY growth of 37% to about 72 million. Active local business accounts surged 39% to about 93,700 while local advertising accounts jumped 48% to about 84,000 in the fourth quarter.
Yelp Inc (NYSE:YELP) ended the December quarter with cash flow from operations of $18.9 million. The company indicated that about 350,000 transactions were made by its consumers through Yelp Platform. The company closed the quarter with cash and cash equivalents of $247.3 million.
The company reported net income of $32.73 million or 42 cents a share compared to a net loss of $2.07 million or a loss of three cents a share in the year-ago quarter. Its adjusted net income more than doubled to $18.9 million or 24 cents a share from $7.34 million or 11 cents a share in the prior year quarter. The company’s EPS was way ahead of analysts’ estimation of seven cents a share.
Yelp’s net revenue jumped 56% to $109.9 million from $70.65 million in the same quarter last year. This was also higher than the Street expectations of $108.36 million revenue.
The company is looking to deliver net revenue of $114 – $116 million for the first quarter. Similarly for the full year, Yelp Inc (NYSE:YELP) expects to achieve net revenue of $538 – $543 million. Street is predicting $114.99 million and $537.98 million respectively.
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