YELP expects Q2 revenue of $85M-$86M, only in-line with an $85.4M consensus. But full-year revenue guidance has been hiked to $363M-$367M from a prior $353M-$358M (consensus is at $358.9M).
Q1 adjusted EBITDA was $8.5M, in-line with guidance of $8M-$9M. Adjusted EBITDA is expected to rise to $11.5M-$12.5M in Q2, and total $56M-$60M in 2014 (a $2M increase from prior guidance).
Q1 revenue growth was 66% Y/Y vs. 72% in Q4. Cumulative reviews +46% (to 57M) vs. +47%. Average monthly unique visitors +30% (to 132M), down from Q4's +39%, with mobile uniques growing 52% to 61M. Active local business accounts +65% (to 74K) vs. +69%.
Costs/expenses rose 60% Y/Y to $81M, with sales/marketing spend rising 60% to $45.1M.
Q1 results, PR