Yelp (YELP) Tops Q1 EPS by 18c, Revenues Beat

Yelp (NYSE: YELP) reported Q1 EPS of ($0.08), $0.18 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $232.1 million versus the consensus estimate of $228.49 million.

• First quarter Net Revenue of $232 million, Net Loss of $6 million
• Adjusted EBITDA increased by 159% year over year to $44 million
• Raises full year 2021 Business Outlook and now expects $1 billion to $1.02 billion of Net Revenue and $175 million to $195 million of Adjusted EBITDA*

“Yelp’s mission of connecting people with great local businesses has never been more important, as local economies begin to recover and people return to businesses in their community,” said Jeremy Stoppelman, Yelp co-founder and CEO. “At the same time, our strategic initiatives continued to gain momentum in the first quarter, achieving record retention and revenue from our Services categories and Self-serve channel. This progress reflects the success of our increased focus on product innovation and more efficient go-to-market approach, which together lay the foundation for our next stage of growth, and positions us well in 2021 and beyond.”

GUIDANCE:

Yelp sees FY2021 revenue of $1-1.02 billion, versus the consensus of $997.82 million.

For earnings history and earnings-related data on Yelp (YELP) click here.

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