Yelp (YELP) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 134.78%. A quarter ago, it was expected that this online business reviews company would post earnings of $0.04 per share when it actually produced earnings of $0.20, delivering a surprise of 400%.Over the last four quarters, ...

Yelp Inc. (NYSE:YELP) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Kate Krieger - Director, IR Jeremy Stoppelman - CEO David Schwarzbach - CFO Jed Nachman - COO Conference Call Participants Eric Sheridan - Goldman Sachs Cal Bartyzal - Craig-Hallum Capital Group Colin Sebastian - Baird Sergio Segura - KeyBanc Josh Beck - Raymond James Dion Lee - Evercore Georgia Anderson - Wolfe Research Operator Hello, and welcome to the Q2 2024 Yelp, Inc. Earnings Conference Call. [Operat ...

Back in 2004, Yelp’s crowd-sourced business review platform helped create an era of commerce defined by at-your-fingertips convenience.That was then. But two decades later, and Yelp is still contributing to, if not necessarily as strongly defining, the digital category it helped spearhead. After all, convenience and real-time insights are far from going out of style in today’s commerce landscape. Just look at the Thursday (Aug. 8) results from Yelp’s second quarter 2024 earnings report — which show that the ...

EXHIBIT 99.1 Yelp Achieves Record Net Revenue and Strong Profitability in the Second Quarter 2024 Net Revenue increased by 6% year over year to $357 million Net Income increased by 158% year over year to $38 million, reflecting an 11% margin Adjusted EBITDA grew 9% year over year to $91 million, reflecting a 26% margin Full-year outlook adjusted to $1.410 billion to $1.425 billion of Net Revenue and $325 million to $335 million of Adjusted EBITDA 1 SAN FRANCISCO--(BUSINESS WIRE)-- August 8, 2024-- Yelp Inc. ...

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all.In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.However, the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the trad ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Yelp (YELP) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move lower ...

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.It also includes access to the Zacks Style Scores.What are the Zacks Style Scores?Developed alongsi ...

Yelp can continue a trademark infringement and unfair competition lawsuit against a company that advertised that it could remove “bad” reviews from the platform.A judge ruled Thursday (June 6) that Yelp can pursue these claims against ReviewVio, which does business as Dandy, Reuters reported Friday (June 7).Yelp said its reputation was harmed by ReviewVio’s ads that included the Yelp logo and suggested that businesses could pay to artificially inflate their ratings on the business review website, according ...

Michael Vi Yelp (NYSE:YELP) has had a tough run this year. Amid sharp market rallies across sectors, the restaurant and local business reviews site has shed nearly 20% of its market value, as investors chased riskier and higher-growth stocks and shied away from potential value traps. Though commonly perceived as one, Yelp, in my view, is not what I'd consider a value trap. Value traps are cheap stocks that have neither catalysts for growth nor solutions to tough predicaments they sit in at the moment - ...

[Part I. Financial Information](index=5&type=section&id=Part%20I.%20Financial%20Information) [Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Yelp's unaudited condensed consolidated financial statements for Q1 2024 report a **$14.2 million** net income, a significant improvement from a **$1.2 million** net loss in Q1 2023 Condensed Consolidated Statements of Operations Highlights (Q1 2024 vs Q1 2023) | Financial Metric | Q1 2024 (in $ thousands) | Q1 2023 (in $ thousands) | Change (%) | | :--- | :--- | :--- | :--- | | **Net Revenue** | $332,752 | $312,438 | +6.5% | | Income (loss) from operations | $11,217 | $(6,587) | N/A | | **Net income (loss)** | $14,154 | $(1,178) | N/A | | **Diluted EPS** | $0.20 | $(0.02) | N/A | Condensed Consolidated Balance Sheet Highlights (As of March 31, 2024) | Balance Sheet Item | March 31, 2024 (in $ thousands) | December 31, 2023 (in $ thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $296,045 | $313,911 | | Total current assets | $606,900 | $624,216 | | **Total assets** | $993,477 | $1,014,723 | | Total current liabilities | $191,296 | $175,864 | | **Total liabilities** | $271,504 | $265,189 | | **Total stockholders' equity** | $721,973 | $749,534 | Condensed Consolidated Statements of Cash Flows Highlights (Q1 2024 vs Q1 2023) | Cash Flow Item | Q1 2024 (in $ thousands) | Q1 2023 (in $ thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $72,855 | $74,244 | | Net cash used in investing activities | $(6,402) | $(37,280) | | Net cash used in financing activities | $(83,834) | $(54,706) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2024 financial results, highlighting a **7%** net revenue increase to **$332.8 million**, driven by Services, and strategic AI initiatives Q1 2024 Financial Highlights | Metric | Q1 2024 | YoY Change | | :--- | :--- | :--- | | Net Revenue | $332.8 million | +7% | | Net Income | $14.2 million | N/A (from loss) | | Adjusted EBITDA | $64.5 million | +19% | - Strategic investments in product and marketing drove progress, particularly in Home Services, which saw revenue grow approximately **15%** YoY[106](index=106&type=chunk) - The company launched Yelp Assistant, a conversational AI feature, and the Yelp Fusion AI API to improve user experience and expand content reach to third-party platforms[106](index=106&type=chunk) - Revenue from the Self-serve channel grew approximately **20%** YoY, driven by record customer acquisition[106](index=106&type=chunk) [Key Metrics](index=26&type=section&id=Key%20Metrics) Q1 2024 advertising revenue grew **7%** due to **8%** ad click increase, with Services revenue up **11%** despite a **4%** decrease in total paying advertising locations Ad Clicks and Average CPC (YoY Change) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Ad Clicks | 8% | 1% | | Average CPC | (1)% | 14% | Advertising Revenue by Category (Q1 2024) | Category | Revenue (in $ thousands) | YoY Change | | :--- | :--- | :--- | | Services | $203,288 | 11% | | Restaurants, Retail & Other | $114,350 | 1% | | **Total Advertising Revenue** | **$317,638** | **7%** | Paying Advertising Locations (Q1 2024) | Category | Locations (in thousands) | YoY Change | | :--- | :--- | :--- | | Services | 252 | 6% | | Restaurants, Retail & Other | 278 | (12)% | | **Total Paying Advertising Locations** | **530** | **(4)%** | [Results of Operations](index=28&type=section&id=Results%20of%20Operations) Q1 2024 saw total net revenue increase **7%** to **$332.8 million**, with operating income turning positive at **$11.2 million** due to controlled expense growth - Advertising revenue increased by **7%** YoY, primarily due to an **8%** increase in ad clicks[126](index=126&type=chunk) - Sales and marketing expenses were flat YoY, as increased marketing spend on Services project acquisition was offset by reductions in workplace operating costs[133](index=133&type=chunk) - General and administrative expenses decreased by **3%** YoY, mainly because a **$3.6 million** impairment charge from Q1 2023 did not recur. This was partially offset by a **$4.9 million** increase in the provision for doubtful accounts[138](index=138&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2024, Yelp's liquidity included **$296.0 million** cash and **$124.7 million** marketable securities, with **$72.9 million** cash from operations in Q1 Liquidity Position as of March 31, 2024 | Item | Amount (in $ millions) | | :--- | :--- | | Cash and cash equivalents | $296.0 | | Marketable securities | $124.7 | | Available under credit facility | $110.9 | - In Q1 2024, the company repurchased **1,526,366** shares for an aggregate price of **$62.5 million**[172](index=172&type=chunk) - Future material cash requirements include **$83.9 million** for operating leases and approximately **$198.9 million** for purchase obligations, primarily for website hosting services[163](index=163&type=chunk)[164](index=164&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's exposure to market risks, including interest rate, foreign exchange, and inflation, remains materially unchanged since year-end 2023 - Primary market risks include interest rate, foreign exchange, and inflation[175](index=175&type=chunk) - There have been no material changes in market risk exposure since the end of 2023[175](index=175&type=chunk) [Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting - The CEO and CFO concluded that disclosure controls and procedures were effective as of March 31, 2024[177](index=177&type=chunk) - No material changes to internal control over financial reporting occurred during the first quarter of 2024[178](index=178&type=chunk) [Part II. Other Information](index=36&type=section&id=Part%20II.%20Other%20Information) [Legal Proceedings](index=36&type=section&id=Item%201.%20Legal%20Proceedings) The CIPA Action class action lawsuit was settled for **$15.0 million**, receiving final court approval on April 10, 2024, resolving all claims - The CIPA Action lawsuit was settled for **$15.0 million**, with final court approval granted on April 10, 2024[68](index=68&type=chunk) - The company had accrued the full **$15.0 million** for this loss contingency as of March 31, 2024, and expects to fund the settlement in Q2 2024[69](index=69&type=chunk) [Risk Factors](index=36&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the company's previously disclosed risk factors were identified since the Annual Report on Form 10-K - No material changes to risk factors were identified since the last Annual Report[183](index=183&type=chunk) [Issuer Purchases of Equity Securities](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%2C%20Use%20of%20Proceeds%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) In Q1 2024, Yelp repurchased **1.53 million** shares for **$62.5 million**, with **$492.2 million** remaining for future repurchases Stock Repurchase Activity (Q1 2024) | Period | Total Shares Purchased (in thousands of shares) | Average Price Paid per Share | | :--- | :--- | :--- | | January 2024 | 541 | $45.04 | | February 2024 | 59 | $44.79 | | March 2024 | 927 | $38.31 | - The Board authorized an additional **$500.0 million** for the stock repurchase program in February 2024[184](index=184&type=chunk) [Other Information](index=36&type=section&id=Item%205.%20Other%20Information) This section discloses that CTO Sam Eaton and COO Jed Nachman entered into Rule 10b5-1 trading plans in February and March 2024, respectively - On February 21, 2024, CTO Sam Eaton entered into a Rule 10b5-1 trading plan[187](index=187&type=chunk) - On March 5, 2024, COO Jed Nachman entered into a Rule 10b5-1 trading plan[188](index=188&type=chunk) [Exhibits](index=38&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including CEO and CFO certifications and Inline XBRL documents