other material
confidence high
sentiment positive
materiality 0.80
Yelp Q3 net revenue $360M (+4% YoY); acquires RepairPal for $80M cash
YELP INC
- Net revenue $360M, up 4% YoY; net income $38M ($0.56 diluted EPS) down from $58M.
- Adjusted EBITDA $101M (28% margin), up 5% YoY and $14M above outlook high end.
- Services advertising revenue $228M, up 11% YoY (record); Home Services grew ~15%.
- Acquiring RepairPal for $80M cash; expected close by end of 2024; RepairPal generated ~$30M revenue.
- FY2024 guidance: net revenue $1.397B-$1.402B, adjusted EBITDA $341M-$346M.