Yelp: Q4 Revs Top Ests; Loss Wider Than Expected; Shrs Off
Yelp reported Q4 revenues of $41.2 million, up 65% from a year ago, and ahead of the Street consensus at $40.3 million. But the online consumer reviews site lost 8 cents a share in the quarter, wider than the Street consensus estimated loss of 4 cents a share. Adjusted EBITDA in the quarter was $1.8 million, which compares to an adjusted EBITDA loss of $15,000 in the year earlier quarter.
“2012 was a tremendous year for Yelp,” CEO Jeremy Stoppelman said in a statement.. “We completed a successful IPO, launched new products to improve the Yelp experience for consumers and business owners, expanded into new markets while increasing our presence in existing ones, and completed our first acquisition. We believe 2013 will be a tipping point for our brand in Europe as Yelp continues to become a trusted local resource. Our mobile strategy will remain a top priority as engagement increases, and we will continue to focus on the business owner, creating more ways to measure the value of Yelp leads.”
For Q1, the company sees revenue of $44 million to $44.5 million, with adjusted EBITDA in the $1.25 million to $1.5 million range. The Street has been projecting revenue of $43.8 million.
For all of 2013, Yelp sees revenue of $210 million to $212 million, up 53% from 2012, and ahead of the Street at $207 million. Yelp sees full year adjusted EBITDA of $20 million to $22 million, up from $4.6 million in 2012.
YELP, which in today’s regular session rallied $1.20, or 5.7%, to $22.38, in late trading is down $1.03, or 4.6%, to $21.35.