Yelp beats by $0.07, reports revs in-line; guides Q4 revs below consensus
- Reports Q3 (Sep) earnings of $0.29 per share, $0.07 better than the Capital IQ Consensus of $0.22; revenues rose 19.4% year/year to $222.4 mln vs the $220.75 mln Capital IQ Consensus.
- Cumulative reviews grew 23% year over year to approximately 142 million.
- App unique devices grew 21% year over year to approximately 30 million on a monthly average basis
- Paying advertising accounts grew 18% year over year to approximately 155,000.
- Co issues downside guidance for Q4, sees Q4 revs of $211-216 mln vs. $233.07 mln Capital IQ Consensus Estimate.
- Adjusted EBITDA $39 -- $42 mln
- "We executed well in the third quarter, growing revenue by 19% and generating positive net income," said Jeremy Stoppelman, Yelp's co-founder and chief executive officer. "Traffic growth continues to be healthy, with app unique devices growing 21% year-over-year, and our retention efforts have contributed to strong double-digit advertiser account growth."
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