Yelp reports record Q3 revenue of $345M (+12% YoY); net income up 539% to $58M; raises full-year guidance

YELP INC

2023-Q3 EPS reported $0.98 revenue$994,686,000

Net revenue $345M, record; net income $58M ($0.79 diluted), up 539% YoY; adjusted EBITDA record $96M, +30%.
Services ad revenue $206M (+14% YoY), Home Services grew ~20%; RR&O ad revenue $124M (+10%).
Ad clicks +9% YoY, average CPC +4%; Self-serve revenue +25% YoY; Multi-location +10%.
Raises FY2023 outlook: revenue $1.332-1.337B, adjusted EBITDA $319-324M; repurchased $50M in shares in Q3.
Plans to shift compensation mix from equity to cash, reducing SBC to <8% of revenue by end of 2025.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

YELP INC reported the third quarter ended September 30, 2023 results: revenue $345 million, net income $58 million, or $0.79 per diluted share, EPS $0.79 per diluted share. Guidance raised.

Period: the third quarter ended September 30, 2023
Revenue: $345 million
Net income: $58 million, or $0.79 per diluted share
EPS: $0.79 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

--- Yelp Drove Record Net Revenue in the Third Quarter 2023 as it Delivered More Value to Advertisers Third quarter Net Revenue increased by 12% year over year to a record $345 million Net Income increased by 539% year over year to a strong $58 million Adjusted EBITDA increased by 30% year over year to a record $96 million Raises full-year outlook to $1.332

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Source: SEC EDGAR

accession 0001345016-23-000053

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