Skift Take
Local discovery is inextricably tied to mobile, and the better Yelp does connecting people to the world around them, the better its business will do.
Yelp Inc, the operator of consumer review website Yelp.com, reported a 66 percent rise in quarterly revenue due to higher revenue from local advertising on mobile devices as more customers use smartphones and tablets for information.
The company’s net loss narrowed to $2.6 million, or 4 cents per share, in the first quarter ended March 31 from $4.8 million, or 8 cents per share, a year earlier.
Revenue rose to $76.4 million from $46.1 million.
(Reporting by Lehar Maan in Bangalore; Editing by Kirti Pandey)
Photo Credit: Jeremy Stoppelman, co-founder and CEO of yelp Inc., San Francisco, California, testifies before a Senate Judiciary Subcommittee hearing called "The Power of Google: Serving Consumers or Threatening Competition?" on Capitol Hill, September 21, 2011. Larry Downing / Reuters
