Today, Yelp announced its fourth-quarter earnings, and they weren’t as sunny as some had hoped. Net revenue was $41.2 million in Q4 of 2012 — a 65 percent growth in new revenue from 2011. In turn, net loss was $5.3 million, or $0.08 per share, compared to a net loss of $9.1 million, or $0.55 in the fourth quarter of 2011. Adjusted EBITDA was $1.8 million.
The consensus bet from analysts was that Yelp would hold strong this quarter, with EPS at about $0.04 per share on $40.2 million in revenue, thanks to the fact that many are bullish on local advertising revenues.
All in all, it was a good year, as net revenue for the full year was $137.6 million, up 65 percent from $83.3 million last year. Net loss for 2012 was $19.1 million — $0.35 per share — compared to $16.9 million in 2011. Meanwhile, adjusted EBITDA for 2012 was about $4.6 million.
“2012 was a tremendous year for Yelp,” Yelp CEO Jeremy Stoppelman said in a statement today. “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.”
Yelp (NYSE: YELP) connects people with great local businesses. Yelp was founded in San Francisco in July 2004. Since then, Yelp communities have taken root in major metros across the US, Canada, UK, Ireland, France, Germany, Austria, The Netherlands, Spain, Italy, Switzerland, Belgium, Australia, Sweden, Denmark, Norway, Finland, Singapore, Poland and Turkey. Yelp had a monthly average of 86 million unique visitors in Q4 2012*. By the end of Q4 2012, Yelpers had written more than 36 million rich,...