Tomahawk, WI 08/04/2014 (Basicsmedia) – Yelp Inc. (NYSE:YELP) reported its first profit as a public company as more small business customers spent more on the network in terms of advertising in the second quarter. Yelp also exported revenue growth as more people continued to use its mobile platform for advertising. Facebook Inc. (NASDAQ:FB) is on the other hand becoming pushy as it continues to push users to migrate to another messenger app as it tries to stop mobile messaging on its main apps.
Yelp Inc. (NYSE:YELP) second quarter results were impressive beating analyst estimates in the process, taking into consideration the company made a loss a year ago. Yelp reported a net income of $2.7 million compared to a net loss of $878,000 reported a year ago. Revenue for the quarter was also up by 61% coming in at $88.8 million, up from $55 million posted a year ago, also beating analyst estimates of $86.4 million.
“Yelp turned profitable in the Q2 fueled by more small business advertising on the site as well as mobile app,” said Natalia Angulo on ‘Tech Rewind’ on Fox Business.
Yelp Inc. (NYSE:YELP)’s increase in revenue was heavily impacted’ by an increase in active local business accounts that increased 5,900 sequentially, local businesses also grew by 55%. The impressive growth comes down to yelp devising deals that are luring more businesses to its site and the addition of new features that continue to attract more new users.
Facebook Inc. (NASDAQ:FB) is now removing the ability that allows users to send messages to friends directly, in a move that aims at ensuring all the users download its separate app messenger. Facebook had announced the move back in April as it seeks to separate all-in-one network to separate apps.
“Facebook Inc. (NASDAQ:FB) is now forcing users to migrate to a new messenger app as it stops allowing mobile messaging on its main apps. The social network has already separated the two apps in Europe where users now send 12 billion in messages a day. Facebook also shut down its gift service this week in its latest e-commerce push,” said Natalia Angulo.
Facebook Inc. (NASDAQ:FB) is reported to have already sent emails to some users notifying them about the ongoing transition.