Online business review forum Yelp has added more (artificial intelligence) AI-powered search tools.“For years, we’ve leveraged AI to help reduce consumers’ decision paralysis — from spotlighting the most popular dishes and drinks, to using LLMs (large language models) to power review highlights for more nuanced searches,” the company said Tuesday (Jan. 30) in a news release. “Now, new AI-powered business summaries leverage LLMs to parse recent reviews and describe what you can expect at the business, helpin ...

Yelp is releasing more than 20 new features and updates across the platform that elevate moments of discovery and connection for its users.Yelp is releasing more than 20 new features and updates across the platform that elevate moments of discovery and connection for its users.SAN FRANCISCO--(BUSINESS WIRE)--Yelp Inc. (NYSE:YELP), the company that connects people with great local businesses, today is announcing its Winter Product Release with more than 20 new features that elevate the Yelp experience for bo ...

SAN FRANCISCO--(BUSINESS WIRE)--Yelp Inc. (NYSE: YELP), the company that connects people with great local businesses, announced that on January 16, 2024, the Compensation Committee of Yelp’s Board of Directors granted inducement restricted stock unit awards covering 28,916 shares of Yelp’s common stock to five new non-executive employees to induce them to accept employment with Yelp. Each award was granted under the Yelp Inc. 2023 Inducement Award Plan and vests over a four-year period, subject to continued ...

SAN FRANCISCO--(BUSINESS WIRE)--Yelp, the company that connects people with great local businesses, today announced its highly anticipated 11th annual list of the Top 100 Places to Eat in the U.S., celebrating the best eateries across the nation. As Yelp celebrates its 20th anniversary later this year, the brand is spotlighting the stories, trends and data that show how Yelp helps people more meaningfully connect with their local community. Topping this year's list in the No. 1 spot is Tumerico in Tucson ...

Scott Olson/Getty Images News 2024 is going to be a stock pickers' market. So far in the first few trading weeks of the year, the major market indices have swung between gains and losses, but underneath the hood, many stocks especially in the tech sector have swung considerably (EV stocks have tanked, while software and internet names have largely hung on to their December rallies). The way to beat the markets this year is to be choosy on stocks that have very specific upside catalysts as well as an app ...

Yelp CEO Jeremy Stoppelman. Yelp is one of the few internet companies of its generation still run by its founder. Photo: Amy Osborne/Associated PressBuying growth is rarely a cheap concept, especially for small tech companies that lack the pocketbooks of their much larger peers. Yelp knows this well. Founded 19 years ago as a pioneer in the field of online reviews for local businesses, Yelp has established an Internet advertising business now generating more than $1.2 billion a year in revenue. That is a 10 ...

Yelp Inc. (NYSE:YELP) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants James Miln - Senior Vice President, Finance and Investor Relations Jeremy Stoppelman - Chief Executive Officer David Schwarzbach - Chief Financial Officer Jed Nachman - Chief Operating Officer Conference Call Participants Jason Kreyer - Craig-Hallum Eric Sheridan - Goldman Sachs Cory Carpenter - J.P. Morgan Sergio Segura - KeyBanc Capital Markets Shweta Khajuria - Evercore ISI Stan Velikov - Wells Fargo O ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________________________________ Form 10-Q ______________________________________________________________________________________________________ ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________________________________ Form 10-Q ______________________________________________________________________________________________________ ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

Financial Data and Key Metrics Changes - Net revenue increased by 13% year-over-year to a record $337 million, marking the ninth consecutive quarter of double-digit growth [8][11] - Net income rose by 84% year-over-year to $15 million, while adjusted EBITDA increased by 25% year-over-year to $84 million, representing a 25% margin [11][12] - Average revenue per location reached a record level in the second quarter, although paying advertising locations were relatively flat, down 1% year-over-year [11][12] Business Line Data and Key Metrics Changes - Advertising revenue from services businesses increased by 15% year-over-year to a record $200 million, driven by growth in average revenue per location [11] - Advertising revenue from restaurants, retail, and other businesses increased by 11% year-over-year to a record $122 million, also driven by growth in average revenue per location [11] - Self-serve and multi-location channels maintained strong year-over-year growth rates of approximately 25% and 15%, respectively, accounting for 51% of total advertising revenue for the first time [9][11] Market Data and Key Metrics Changes - The home services category saw approximately 25% year-over-year growth in advertising revenue [8] - Ad clicks were flat year-over-year, while average cost per click (CPC) increased by 14% year-over-year [12] Company Strategy and Development Direction - The company is focused on product innovation and enhancing the advertising experience through AI and neural networks, which have improved ad targeting and content display [9][19] - The strategic priority includes growing revenue through a strong product pipeline and delivering long-term shareholder value [10][15] - The company plans to continue share repurchases, having repurchased $50 million worth of shares in the second quarter [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the macroeconomic environment, noting strong advertising demand from small and medium-sized businesses (SMBs) [53][54] - The company raised its full-year revenue outlook, now expecting net revenue to be in the range of $1.32 billion to $1.33 billion [14][15] - Management acknowledged uncertainties in the economic environment but emphasized their focus on delivering value to advertisers [54] Other Important Information - The company is working to reduce stock-based compensation as a percentage of revenue to less than 8% by the end of 2025 [13] - The company highlighted the successful rollout of Yelp Guaranteed, which has shown early positive results in project submissions and ad clicks [32] Q&A Session Summary Question: Optimization of content and ad targeting - Management discussed ongoing improvements in ad tech and targeting, leveraging neural networks to enhance ad ranking and user experience [18][19] Question: Q4 revenue trajectory - Management acknowledged uncertainties but noted strong momentum and raised full-year guidance, indicating a cautious approach to Q4 expectations [21] Question: Consumer demand and engagement - Management characterized consumer demand as steady, with improvements in user retention and contributions due to recent product enhancements [24][25] Question: Services monetization and matching improvements - Management highlighted ongoing improvements in ad tech and the quality of leads, which have positively impacted services revenue [25][26] Question: Clicks and CPC growth - Management explained that while clicks have been flat, CPCs have increased due to the optimization of advertiser budgets and the value of leads provided [29][30] Question: Multi-location opportunities - Management noted strong growth in the multi-location channel and emphasized the importance of attribution and ROI for advertisers [50] Question: Macro uncertainties - Management acknowledged the complexity of the macroeconomic environment but noted strength in SMB advertising demand [53][54]