Yelp (YELP) Q3 FY2023 earnings: revenue $345 million, up 11.7% on the year

Yelp Inc. (YELP) reported revenue of $345 million for Q3 FY2023, the quarter ended 30 September 2023, up 11.7% on the same quarter a year earlier. Net income was $58 million, up 539.2% on the year, and diluted earnings per share $0.79. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2023.

Revenue$345 millionup 11.7%

Net income$58 millionup 539.2%

Diluted EPS$0.79

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	345	n/a	n/a	n/a
Cost of revenue	28.4	n/a	n/a	n/a
Gross profit	317	n/a	n/a	n/a
Gross margin	91.8%	n/a	n/a
Operating income	41.9	n/a	n/a	n/a
Operating margin	12.1%	n/a	n/a
Pre-tax income	48.0	n/a	n/a	n/a
Income tax	-10.2	n/a	n/a	n/a
Effective tax rate	-21.2%	n/a	n/a
Net income	58.2	n/a	n/a	n/a
Net margin	16.9%	n/a	n/a
Diluted EPS	$0.79	n/a	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	105	n/a	n/a	n/a
Capital expenditure	5.7	n/a	n/a	n/a
Free cash flow	99.2	n/a	n/a	n/a
Free cash flow margin	28.7%	n/a	n/a
Cash from investing	0.4	n/a	n/a	n/a
Cash from financing	-70.3	n/a	n/a	n/a
Depreciation and amortisation	10.5	n/a	n/a	n/a
Share-based compensation	43.5	n/a	n/a	n/a
Buybacks	50.0	n/a	n/a	n/a
Diluted shares, weighted	74m	n/a	n/a	n/a
Shares outstanding at period end	69m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	740	n/a	n/a	n/a
Debt	0.0	n/a	n/a	n/a
Operating lease liabilities	57.5	n/a	n/a	n/a
Other liabilities	230	n/a	n/a	n/a
Total liabilities and equity	1,027	n/a	n/a	n/a
Fixed assets	72.4	n/a	n/a	n/a
Goodwill	102	n/a	n/a	n/a
Intangible assets	8.0	n/a	n/a	n/a
Investments	121	n/a	n/a	n/a
Cash and equivalents	305	n/a	n/a	n/a
Receivables	160	n/a	n/a	n/a
Other assets	259	n/a	n/a	n/a
Total assets	1,027	n/a	n/a	n/a

Questions

What was Yelp's revenue in Q3 FY2023?

Yelp (YELP) reported revenue of $345 million for Q3 FY2023, the quarter ended 30 September 2023, up 11.7% on the same quarter a year earlier.

How much did Yelp earn in Q3 FY2023?

Net income for Q3 FY2023 was $58 million, up 539.2% on the year, and diluted earnings per share $0.79.

When did Yelp report Q3 FY2023 results?

Yelp filed its 10-Q for the quarter ended 30 September 2023 with the SEC on 3 November 2023.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	345	342	333	357	360	362	359	370	376	360	361	376
Cost of revenue	28.4	29.6	27.4	30.7	32.4	33.3	34.8	35.4	36.3	36.0	38.4	41.8
Gross profit	317	313	305	326	328	329	324	335	340	324	323	334
Gross margin	92%	91%	92%	91%	91%	91%	90%	90%	90%	90%	89%	89%
Operating income	41.9	25.0	11.2	39.7	46.7	53.4	29.5	53.3	52.9	48.9	27.3	43.7
Operating margin	12%	7%	3%	11%	13%	15%	8%	14%	14%	14%	8%	12%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.1	n/a	n/a	n/a	1.6
Pre-tax income	48.0	33.8	18.9	50.1	53.9	60.1	35.2	59.0	58.2	51.6	29.9	44.5
Tax rate	-21%	19%	25%	24%	29%	30%	31%	25%	32%	27%	41%	29%
Net income	58.2	27.4	14.2	38.0	38.4	42.2	24.4	44.1	39.3	37.8	17.7	31.7
Net margin	17%	8%	4%	11%	11%	12%	7%	12%	10%	10%	5%	8%
Diluted EPS	$0.79	$0.37	$0.20	$0.54	$0.56	$0.62	$0.36	$0.67	$0.61	$0.61	$0.30	$0.57
Operating cash flow	105	79.2	72.9	39.7	102	71.0	98.0	58.0	132	84.5	57.8	75.8
Capital expenditure	5.7	6.0	7.0	9.6	9.8	11.0	10.5	13.0	12.6	12.2	12.7	14.7
Free cash flow	99.2	73.2	65.9	30.1	92.5	60.0	87.5	45.0	119	72.3	45.2	61.1
Buybacks	50.0	50.0	62.5	60.2	65.7	62.8	62.5	66.0	75.0	87.5	124	50.0
Shares outstanding	69m	69m	68m	68m	67m	66m	65m	64m	62m	60m	56m	55m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 September 2023, filed 3 November 2023, accession 0001345016-23-000057: the filing on EDGAR. All of Yelp Inc.'s filings: EDGAR company page.

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