Yelp records $357M revenue (+6% YoY), net income $38M (+158%); lowers FY revenue guidance by $12.5M midpoint

YELP INC

2024-Q2 EPS reported $0.73 revenue$689,768,000

Net revenue record $357M (+6% YoY); net income $38M (+158% YoY); diluted EPS $0.54 vs $0.21.
Adjusted EBITDA $91M (+9% YoY), margin 26%; services revenue +11%, Home Services ~+15%.
RR&O revenue -3% YoY; paying advertising locations fell 6% to 531k.
FY2024 revenue guidance lowered to $1.410B-$1.425B (midpoint down $12.5M); adj. EBITDA guidance raised to $325M-$335M (midpoint up $10M).
Repurchased 1.7M shares for $63.4M at avg $37.94; $456M remaining under authorization.

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