Yelp’s Q3 2016 earnings report showed solid growth for the company as it boosts revenue and onboards more users. Growth was driven by its strong mobile user base, and likely helped by increased consumer reliance on digital devices while in-store shopping.
- Total revenue got a boost: During Q3 2016, total revenue for Yelp grew nearly 30% YoY, totaling over $186 million. This growth rate is in line with what Yelp reported during Q2.
- The company is driving transactions on its platform: Revenue from transactions alone, including those on the Yelp platform and on-demand meal delivery service Eat24, grew 32% YoY, totaling nearly $16 million.
- Yelp is losing momentum on desktop: Over 77