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Mar 31, 2023
Yelp Q1 2023 Earnings Report
Yelp's Q1 2023 earnings were released, showing record net revenue driven by its product-led strategy.
Key Takeaways
Yelp's Q1 2023 earnings revealed a 13% year-over-year increase in net revenue, reaching a record $312 million. The company's performance was driven by robust advertiser demand, particularly in the home services category, which saw revenue growth of approximately 25% year over year. Adjusted EBITDA increased by 12% year over year to $54 million.
Yelp's net revenue increased by 13% year over year to a record $312 million.
Net loss remained relatively consistent year over year at ($1) million.
Adjusted EBITDA increased by 12% year over year to $54 million.
Services continued its strong performance with advertising revenue increasing 15% year over year to a record $184 million.
Yelp
Yelp
Forward Guidance
Yelp is raising its full-year net revenue outlook, which it now expects to be in the range of $1.295 billion to $1.315 billion.