By Josh Beckerman
Yelp Inc. swung to a profit in the fourth quarter, as average
monthly unique visitors rose 13% to about 135 million, a growth
rate that was below that of its past few quarters.
The San Francisco consumer-review website said average monthly
mobile unique visitors increased 37% to about 72 million, and said
it will "look to drive mobile engagement" this year.
For the current quarter, Yelp expects revenue of $114 million to
$116 million. Analysts polled by Thomson Reuters project $115
million.
Yelp shares fell 9.7% to $51.90 in recent after-hours
trading.
Yelp has been trying to expand its reach, launching websites in
Chile and Hong Kong as well as a mobile service that allows users
to translate reviews. During the fourth quarter, Yelp bought
European review sites Restaurant-Kritik and Cityvox. Yelp now
reaches 29 countries.
For the quarter ended Dec. 31, Yelp earned $32.7 million, or 42
cents a share, compared with a loss of $2.1 million, or three cents
a share, a year earlier. Revenue rose 55.5% to $109.9 million.
Excluding items such as a tax benefit and stock-based
compensation, Yelp earned 24 cents a share.
Yelp had projected revenue between $107 million and $108
million.
For the full year, Yelp expects revenue of $538 million to $543
million, compared with Wall Street estimates of $538 million. Yelp
projects $100 million to $103 million in adjusted earnings before
interest, taxes, depreciation and amortization.
Write to Josh Beckerman at josh.beckerman@wsj.com
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