Yelp Q2 Results Beat Expectations, Raises FY22 Outlook

Yelp Inc YELP reported a second-quarter net revenue increase of 16.2% year-over-year to $298.88 million, beating the consensus of $286.43 million.

Paying advertising locations surpassed pre-pandemic levels, increasing by 4% from Q1 and 8% Y/Y to a record 569,000. Advertising revenue from Services businesses increased by 9% from Q1 and 14% Y/Y.

EPS improved to $0.11 from $0.05 in 2Q21, beating the consensus of $0.01.

The company recorded income from operations of $16 million, compared to a loss of $(1.08) million a year ago.

Adjusted EBITDA rose 5.5% Y/Y to $67.23 million, and margin contracted by 228 bps to 22.5%.

Yelp’s net cash provided by operating activities year-to-date totaled $78.23 million versus $109.11 million a year ago. It held cash and cash equivalents of $422.21 million as of June 30, 2022.

3Q22 Outlook: Yelp expects revenue of $300 million -$310 million vs. a consensus of $297.98 million and Adjusted EBITDA of $65 million -$75 million.

FY22 Outlook, raised: Yelp raised net revenue guidance to $1.18 billion - $1.20 billion vs. a consensus of $1.17 billion from the prior expectation of $1.16 billion-$1.18 billion.

Adjusted EBITDA guidance raised to $265 million -$285 million from $260 million -$280 million.

Price action: YELP shares are trading higher by 14.51% at $37.01 during the post-market session on Thursday.

Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceTop StoriesAfter-Hours CenterMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...