OpenTable Fluctuates on Earnings Release
Beating Wall Street expectations only slightly, OpenTable hasn't moved much in after-market trading. Fourth quarter earnings came in at $0.46 per diluted share ($10.7 million total), which topped estimates by $0.03.
Across 2012, the company increased revenues 16%, to $161.6 million. OpenTable mirrored that increase in Q4, bringing in 16% more revenues year over year to a total of $43.0 million -- beating estimates of $42.5 million. This quarter, North America business continued to drive the top line, bringing in 16% more than its International segment, at 13% on a year-over-year basis; that translates to $36.7 million and $6.3 million, respectively.
The company also saw growth in its restaurant customers and in seated diners.
Currently, OpenTable grew its restaurant base by 9.5%, to 27,517; 19,801 comes from North American merchants, and 7,716 are international. After adjusting for a relaunch of its toptable site in Q2 2012, OpenTable says that its international installation base actually saw a 62% increase over 2011.
Seated diners increased by 22.3%, to 32.8 million, compared to Q4 2011. North America accounted for 29.9 million diners, growing 21%, while International diners grew 35%, and totaled 3.0 million.
Matt Roberts, President and CEO of OpenTable, said:
Our business continued to demonstrate strong momentum in 2012. The shift to mobile coupled with richer customer experiences represent long-term opportunities for the business, and we're pleased with the recent progress in our international segment.
Going forward, OpenTable expects revenues to be around $44.7-$46.1 million next quarter, and $186.1-$193.1 million next year. Non-GAAP EPS should be in the range of $1.79 to $1.96 for the year, while next quarter EPS should range from $0.39 to $0.44;
The article OpenTable Fluctuates on Earnings Release originally appeared on Fool.com.Fool contributor Kevin Chen has no position in any stocks mentioned. You can follow him at @TMFKang or on Google+. The Motley Fool recommends OpenTable. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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