By Luís Daniel Rijo in Search News — Nov 5, 2023

Yelp beats third-quarter expectations, raises full-year outlook

Yelp this week reported strong third-quarter results, beating analyst expectations on revenue and earnings. The company also raised its full-year outlook.

Yelp this week reported strong third-quarter results, beating analyst expectations on revenue and earnings. The company also raised its full-year outlook. Yelp is a website and mobile app that publishes crowd-sourced reviews of businesses, including restaurants, bars, hotels, shopping, hair salons, and home and auto services.

Yelp's net revenue increased 12% year over year to $345 million, beating the consensus estimate of $336 million. Net income increased 539% year over year to $58 million. Adjusted EBITDA increased 30% year over year to $96 million. Yelp raised its full-year outlook to $1.332 billion to $1.337 billion of net revenue and $319 million to $324 million of adjusted EBITDA.

"We continued to see strong momentum from our product-led strategy as our team delivered another quarter with a number of record-breaking results," said Jeremy Stoppelman, Yelp's co-founder and chief executive officer. "Third quarter net revenue reached a new high, driven by record advertising revenue in our services category as service pros spent more on Yelp than ever before, 25% growth in our self-serve channel and a 9% increase in ad clicks year over year."

In its Q3 2023 earnings release on November 2, 2023, Yelp raised its full-year outlook for 2023 to $1.332 billion to $1.337 billion of net revenue and $319 million to $324 million of adjusted EBITDA.

PPC Land is an international news publication headquartered in Frankfurt, Germany. PPC Land delivers daily articles brimming with the latest news for marketing professionals of all experience levels.

Subscribe to our newsletter for just $10/year and get marketing news delivered straight to your inbox. By subscribing, you are supporting PPC Land.

You can also follow PPC Land on LinkedIn, Bluesky, Reddit, Mastodon, X, Facebook, Threads, and Google News.

Know more about us or contact us via info@ppc.land

Our latest marketing news:

Subscribe via email