Yelp Soars Toward Return to Spending with Public Review Verification By

© Reuters.

By Dhirendra Tripathi – Yelp Shares (NYSE:) jumped 9% on Friday after the company beat fourth-quarter estimates and promised another year of robust growth.

The company expects 2022 net revenue to be $1.16 billion to $1.18 billion, representing more than 14% growth at the high end. This follows an 18% increase in annual revenue that topped $1 billion in 2021, surpassing its pre-pandemic performance. Ad clicks increased by 24% during the year.

Fourth-quarter revenue rose more than 17% to over $273 million, driven by a recovery in spending as more consumers opted out and logged into its platform for restaurant, bar and salon reviews. beauty.

Cumulative reviews increased 9% year over year to exceed 244 million as of December 31, 2021 attracting 20 million. The company has scaled Yelp Connect, a paid product that provides advertisers with a channel to market new offers to customers.

Ad revenue from service businesses and the strength of the home services category are growing strongly. Adjusted earnings per share rose 3 cents to 30 cents and well ahead of estimates.

Yelp is working on a plan to reduce its office space. It has $232 million left in its buyback program and plans to continue using some of it to buy back shares.

Warning: Merged media would like to remind you that the data contained in this site is not necessarily real time or exact. All prices for CFDs (stocks, indices, futures) and Forex are not provided by exchanges but rather by market makers, and therefore prices may not be accurate and may differ from the actual market price, which which means that the prices are indicative and not suitable for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur due to the use of this data.

Merged media or anyone involved with Fusion Media will accept no liability for any loss or damage resulting from reliance on the information, including data, quotes, charts and buy/sell signals contained in this website . Please be fully informed of the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investment possible.

Comments are closed.