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Yelp Reports Second Quarter 2019 Financial Results
Earnings per Share increased 30% year over year to $0.16 on a diluted basis, driven by
strong Net Income growth and stock repurchases
Net Revenue grew to $247 Million, Net Income rose to $12 Million, Adjusted EBITDA increased
to a record of $55 Million
Returned $295 Million to shareholders through share repurchases in the second quarter
Reaffirms 2019 Business Outlook
SAN FRANCISCO--(BUSINESS WIRE)--August 8, 2019--Yelp Inc. (NYSE: YELP), the company that connects people with great local businesses, today posted its financial results for the quarter ended June 30, 2019 in the Q2 2019 Shareholder Letter available on its Investor Relations website at www.yelp-ir.com.
“I am proud of our team’s execution of Yelp’s business transition in the first half, which helped us achieve our outlook for the second quarter and sets the stage for revenue acceleration in the second half,” said Jeremy Stoppelman, Yelp’s co-founder and chief executive officer. “The significant progress we have made this year, which includes delivering compelling new products, driving greater value to our advertisers, and growing our multi-location business, reinforces our confidence in achieving our financial outlook for 2019.”
Yelp today separately announced that Charles “Lanny” Baker will step down as Chief Financial Officer of Yelp, effective September 2, 2019, in order to accept an executive position at another company. Finance Vice President James Miln will become interim Chief Financial Officer upon Baker’s departure. Yelp has initiated an executive search for a new CFO.
Quarterly Conference Call
Yelp will host a live Q&A session today at 2:00 p.m. PT to discuss the second quarter 2019 financial results and its Business Outlook for the third quarter and full year 2019. The webcast of the Q&A can be accessed on the Yelp Investor Relations website at www.yelp-ir.com. A replay of the webcast will be available at the same website.
Yelp Inc. (www.yelp.com) connects people with great local businesses. With unmatched local business information, photos, and review content, Yelp provides a one-stop local platform for consumers to discover, connect, and transact with local businesses of all sizes by making it easy to request a quote, join a waitlist, and make a reservation, appointment, or purchase. Yelp was founded in San Francisco in July 2004.
Yelp intends to make future announcements of material financial and other information through its Investor Relations website. Yelp will also, from time to time, disclose this information through press releases, filings with the Securities and Exchange Commission, conference calls, or webcasts, as required by applicable law.
The following information was filed by Yelp Inc (YELP) on Thursday, August 8, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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