Yelp Q3 2013 Revenue Up 68%

Yelp released its Q3 2013 earnings report recently, posting a 68% growth in revenue from the third quarter of last year.

yelp-logoCumulative reviews on Yelp have increased 42 percent year over year, climbing to 47.3 million. Average monthly unique visitors grew 41 percent year over year to 117 million. The number of business accounts on Yelp has grown to 57,200, representing 61 percent year over year growth.

In the release, Yelp CEO Jeremy Stoppelman states:

“We saw another quarter of strong momentum thanks to high-quality, authentic content contributed by Yelpers around the world…”

He attributed Yelps recent gains in part to the site’s mobile advances and new features, “In the third quarter, we improved the user experience by adding the ability to write and post reviews from mobile and launched new features such as the customer activity feed for business owners.”

As far as Yelp’s mobile engagement, the company’s third quarter results showed 46 percent of its local ads were shown on mobile devices and 62 percent of searches happened on mobile devices. Yelp claims its mobile app usage this quarter reached a monthly average of 11.2 million unique mobile devices.

Yelp forecasts fourth quarter 2013 net revenue to be in the range of $66 million to $67 million, a 62% increase compared to fourth quarter of 2012.

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