YELP - Yelp Q1 results beat estimates co raises FY 2023 revenue guidance

2023-05-04 16:05:53 ET

• Yelp ( NYSE: YELP ): Q1 GAAP EPS of -$0.02 beats by $0.03 .
• Revenue of $312.4M (+12.9% Y/Y) beats by $6.66M .
• YELP is raising FY 2023 revenue outlook to a range of $1.295B to $1.315B from $1.29B to $1.31B previously. The consensus estimate is $1.30B.
• YELP keeps FY 2023 adj. EBITDA guidance of $290M to $310M unchanged.
• Paying advertising locations increased by 1% Y/Y to 554K while average revenue per location increased by 11% Y/Y to a "near-record" level.
• Advertising revenue from services businesses increased 15% Y/Y to a record $184M.
• Advertising revenue from restaurants, retail & other businesses increased by 10% Y/Y to $114M.
• Ad clicks increased by 1% from the first quarter of 2022.
• Press release
• Shares +2% after hours.

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