Financial Performance - Net revenue for the three months ended September 30, 2024, was $360,344, an increase from $345,122 for the same period in 2023, representing a growth of approximately 0.35%[18] - Net income attributable to common stockholders for the three months ended September 30, 2024, was $38,440, down from $58,216 in the same period of 2023, reflecting a decrease of approximately 34%[20] - Operating income for the three months ended September 30, 2024, was $46,652, an increase from $41,873 in the same period of 2023, indicating a growth of approximately 11.5%[18] - Net income for the quarter ended September 30, 2023, was $58,216,000, compared to $71,767,000 for the same period in the previous year[22] - Net income for the nine months ended September 30, 2024, was $90,630,000, an increase from $71,767,000 in the same period of 2023, representing a growth of approximately 26%[24] - Net income for the quarter ended December 31, 2023, was $90,630,000, showing a positive trend in profitability[22] Assets and Liabilities - Total current assets decreased to $590,228 as of September 30, 2024, from $624,216 as of December 31, 2023, a decline of about 5.45%[16] - Total liabilities decreased to $240,668 as of September 30, 2024, compared to $265,189 as of December 31, 2023, a reduction of approximately 9.27%[16] - The company’s total stockholders' equity decreased to $739,540 as of September 30, 2024, from $749,534 as of December 31, 2023, a decline of approximately 1.32%[16] - The balance of accumulated deficit as of September 30, 2023, was $1,002,055,000, a slight improvement from $1,010,272,000 as of June 30, 2023[21] - The balance of deferred tax assets increased to $136,667,000 as of September 30, 2024, from $119,449,000 as of December 31, 2023, marking a growth of 14.4%[59] Cash Flow and Investments - Net cash provided by operating activities was $214,842,000, compared to $227,110,000 for the same period in 2023, indicating a decrease of about 5.4%[24] - Cash, cash equivalents, and restricted cash at the end of the period totaled $261,977,000, down from $314,002,000 at the beginning of the period, reflecting a decrease of approximately 16.5%[24] - The company experienced a net cash used in investing activities of $34,440,000, compared to $46,465,000 in the previous year, reflecting an improvement of about 26%[24] - Net cash used in financing activities increased to $(233.0) million, driven by higher common stock repurchases and lower proceeds from stock option exercises[179] - The company has approximately $187 million in purchase obligations for goods and services, with $55.6 million expected to be paid within the next 12 months[175] Stock and Shareholder Activities - The company repurchased $50,107,000 worth of common stock during the quarter, indicating a commitment to returning value to shareholders[21] - The company repurchased 4,979,329 shares for an aggregate purchase price of $188.4 million during the nine months ended September 30, 2024, with a remaining authorization of $393.3 million for stock repurchases[77][78] - The stock repurchase program has authorized up to $1.95 billion, with $367.2 million remaining available as of November 1, 2024[180] Revenue Streams - Advertising revenue from Services businesses increased by 11% year over year, reaching 66% of total advertising revenue in the third quarter of 2024[111] - The Home Services category experienced revenue growth of approximately 15% year over year, with project growth increasing by approximately 25% due to improvements in the Request-a-Quote flow[111] - Revenue from the Self-serve channel increased by approximately 15% year over year in Q3 to a record level[114] - Total advertising revenue for Q3 2024 was $344.4 million, compared to $330.0 million in Q3 2023, marking a 4% increase[128] Expenses and Costs - Cost of revenue for the three months ended September 30, 2024, was $32,382, a 14% increase from the prior year, primarily due to website infrastructure expenses[139] - Sales and marketing expenses for the three months increased by $5.0 million, primarily due to higher marketing spend, while for the nine months, the increase was $17.9 million[142] - General and administrative expenses for the three months ended September 30, 2024, increased due to a $5.9 million impairment charge related to office space subleases[149] Future Outlook - The company expects net revenue to decrease sequentially in Q4 2024 due to ongoing challenges in RR&O businesses[116] - The company expects general and administrative expenses to decrease in 2024 compared to 2023, but may remain consistent as a percentage of net revenue[152] - The company anticipates that sales and marketing expenses will increase in 2024 compared to 2023, driven by efforts to acquire Services projects[144]

Local business information platform Yelp plans to acquire auto services platform RepairPal for about $80 million in cash. The acquisition is expected to close by the end of the year, subject to customary closing conditions, Yelp said in a Thursday (Nov. 7) press release. The company announced the planned acquisition in an earnings release that also said that Yelp's advertising revenues in its Services categories rose 11% year over year to reach a record $228 million in third quarter. This contributed to the ...

Yelp Inc. (YELP) reported third-quarter 2024 earnings of 56 cents per share, beating the Zacks Consensus Estimate by 40%. The figure declined 29.1% year over year.YELP’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 165.12%.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.YELP’s revenues increased 4.4% year over year to $360.3 million but marginally missed the Zacks Consensus Estimate by 0.11%.Following its lower-than-expec ...

Yelp (YELP) reported $360.34 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 4.4%. EPS of $0.56 for the same period compares to $0.79 a year ago.The reported revenue represents a surprise of -0.11% over the Zacks Consensus Estimate of $360.74 million. With the consensus EPS estimate being $0.40, the EPS surprise was +40.00%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Yelp (YELP) came out with quarterly earnings of $0.56 per share, beating the Zacks Consensus Estimate of $0.40 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 40%. A quarter ago, it was expected that this online business reviews company would post earnings of $0.23 per share when it actually produced earnings of $0.54, delivering a surprise of 134.78%. Over the last four quarters, ...

Yelp Inc. (NYSE:YELP) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET Company Participants Kate Krieger - Director, IR Jeremy Stoppelman – CEO David Schwarzbach – CFO Jed Nachman - COO Conference Call Participants Cal Bartyzal - Craig-Hallum Capital Group Shweta Khajuria - Wolfe Research Josh Beck - Raymond James Sergio Segura – KeyBanc Capital Markets John Colantuoni - Jefferies Robert Coolbrith - Evercore ISI Operator Thank you for standing by. My name is Brianna, and I will be your conferenc ...

Yelp, which made a name for itself giving restaurant recs, just bought an auto services website. In the company's earnings report on Thursday, Yelp revealed that it agreed to buy RepairPal, a site for car repair estimates, for $80 million in cash. The acquisition is expected to close by the end of the year, subject to customary closing conditions. "We believe RepairPal will accelerate our broader services efforts by expanding our offerings in the multibillion dollar U.S. auto services advertising vertical," ...

Financial Performance - Net Revenue increased by 4% to $360 million in Q3 2024[1] - Net Income of $38 million, reflecting an 11% margin[1] - Adjusted EBITDA of $101 million, reflecting a 28% margin[1] - Net income per share attributable to common stockholders was $0.57 for Q3 2024[10] - Net income for the nine months ended September 30, 2024, was $90,630,000, an increase from $71,767,000 in the same period of 2023, representing a growth of approximately 26%[11] - Adjusted EBITDA for the nine months ended September 30, 2024, was $256,935,000, compared to $234,439,000 for the same period in 2023, reflecting an increase of about 9.7%[15] - Net revenue for the nine months ended September 30, 2024, was $1,050,112,000, an increase from $994,686,000 in the same period of 2023, representing a growth of approximately 5.6%[15] - The Adjusted EBITDA margin for the nine months ended September 30, 2024, was 24%, consistent with the margin for the same period in 2023[15] Revenue Sources - Advertising revenue from Services businesses increased by 11% year over year to a record $228 million[2] - Revenue growth of approximately 15% year over year in the Home Services category[2] Cash Flow and Assets - Free cash flow for the nine months ended September 30, 2024, was $188,505,000, down from $206,260,000 in the same period of 2023, indicating a decrease of approximately 8.6%[16] - Net cash provided by operating activities for the nine months ended September 30, 2024, was $214,842,000, compared to $227,110,000 in the same period of 2023, a decline of about 5.4%[11] - Cash, cash equivalents, and restricted cash at the end of the period were $261,977,000, down from $305,454,000 at the end of the same period in 2023, a decrease of approximately 14.2%[11] Liabilities and Provisions - Total current assets decreased from $624.2 million to $590.2 million[9] - Total liabilities decreased from $265.2 million to $240.7 million[9] - The company reported a provision for doubtful accounts of $35,111,000 for the nine months ended September 30, 2024, compared to $26,664,000 in the same period of 2023, an increase of about 31.5%[11] Stock-Based Compensation and Financing - The company incurred stock-based compensation expenses of $123,396,000 for the nine months ended September 30, 2024, slightly down from $133,304,000 in the same period of 2023, a decrease of approximately 7.4%[11] - Net cash used in financing activities for the nine months ended September 30, 2024, was $233,007,000, compared to $183,232,000 in the same period of 2023, an increase of approximately 27.1%[16] Outlook and Acquisitions - Full-year outlook adjusted to $1.397 billion to $1.402 billion of Net Revenue[1] - Planned acquisition of RepairPal for $80 million in cash expected to close by year-end[1]

Yelp Inc. (YELP) is slated to report third-quarter 2024 results after market close on Nov. 7.For the third quarter, the company anticipates revenues between $357 million and $362 million. The Zacks Consensus Estimate for third-quarter revenues is pegged at $362 million, indicating a year-over-year increase of 5%.The consensus mark for earnings is pegged at 40 cents per share, suggesting a 49.4% year-over-year decline.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.YELP’s earnings ou ...

Investors might want to bet on Yelp (YELP) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. Since a ch ...