Local.com Posts Strong Growth in Local Search Ad Revenue
Local search engine Local.com reported first-quarter 2007 revenue of $4.9 million, an improvement of 55% over revenue for the same quarter last year and 35% revenue growth from Q4 2006.
Net loss for the quarter was $3.1 million, 18.4% down from losses in Q1 2006 and an 11% better result than the Irvine CA-based company had anticipated in issuing its guidance for the quarter.
Local.com, which offers targeted local search results and offers from local businesses, said local search revenue for the first quarter of 2007 was $4.1 million, up 258% year over year and up 53% from fourth quarter 2006. National search revenue was $800,000 during the quarter, down from $1 million in Q4 2006.
The company said its site served 30 million unique visitors during the quarter, compared to 24 million during the same quarter last year and 26 million in the last quarter of 2006. Visits per user increased to 1.98 for the quarter, compared to 1.5 in Q1 2006.
Revenue per thousand visitors was $137, up 234% from $41 in the same quarter last year and up 49% from Q4 2006.
