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Yelp (YELP) Q4 FY2023 earnings: revenue $342 million, up 10.8% on the year

Yelp Inc. (YELP) reported revenue of $342 million for Q4 FY2023, the quarter ended 31 December 2023, up 10.8% on the same quarter a year earlier. Net income was $27 million, up 36.0% on the year, and diluted earnings per share $0.37. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.

Revenue$342 millionup 10.8%
Net income$27 millionup 36.0%
Diluted EPS$0.37
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue342345n/an/a
Cost of revenue29.628.4n/an/a
Gross profit313317n/an/a
Gross margin91.3%91.8%n/a
Operating income25.041.9n/an/a
Operating margin7.3%12.1%n/a
Pre-tax income33.848.0n/an/a
Income tax6.4-10.2n/an/a
Effective tax rate18.9%-21.2%n/a
Net income27.458.2n/an/a
Net margin8.0%16.9%n/a
Diluted EPS$0.37$0.79n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. 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

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow79.2105n/an/a
Capital expenditure6.05.7n/an/a
Free cash flow73.299.2n/an/a
Free cash flow margin21.4%28.7%n/a
Cash from investing-8.20.4n/an/a
Cash from financing-63.5-70.3n/an/a
Depreciation and amortisation10.310.5n/an/a
Share-based compensation40.143.5n/an/a
Buybacks50.050.0n/an/a
Diluted shares, weighted73m74mn/an/a
Shares outstanding at period end69m69mn/an/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

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity750740n/an/a
Debt0.00.0n/an/a
Operating lease liabilities48.157.5n/an/a
Other liabilities217230n/an/a
Total liabilities and equity1,0151,027n/an/a
Fixed assets68.772.4n/an/a
Goodwill104102n/an/a
Intangible assets7.68.0n/an/a
Investments127121n/an/a
Cash and equivalents314305n/an/a
Receivables146160n/an/a
Other assets247259n/an/a
Total assets1,0151,027n/an/a

Questions

What was Yelp's revenue in Q4 FY2023?

Yelp (YELP) reported revenue of $342 million for Q4 FY2023, the quarter ended 31 December 2023, up 10.8% on the same quarter a year earlier.

How much did Yelp earn in Q4 FY2023?

Net income for Q4 FY2023 was $27 million, up 36.0% on the year, and diluted earnings per share $0.37.

When did Yelp report Q4 FY2023 results?

Yelp filed its 10-K for the year that ended with the quarter on 27 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue345342333357360362359370376360361376
Cost of revenue28.429.627.430.732.433.334.835.436.336.038.441.8
Gross profit317313305326328329324335340324323334
Gross margin92%91%92%91%91%91%90%90%90%90%89%89%
Operating income41.925.011.239.746.753.429.553.352.948.927.343.7
Operating margin12%7%3%11%13%15%8%14%14%14%8%12%
Interest expensen/an/an/an/an/an/an/a0.1n/an/an/a1.6
Pre-tax income48.033.818.950.153.960.135.259.058.251.629.944.5
Tax rate-21%19%25%24%29%30%31%25%32%27%41%29%
Net income58.227.414.238.038.442.224.444.139.337.817.731.7
Net margin17%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 flow10579.272.939.710271.098.058.013284.557.875.8
Capital expenditure5.76.07.09.69.811.010.513.012.612.212.714.7
Free cash flow99.273.265.930.192.560.087.545.011972.345.261.1
Buybacks50.050.062.560.265.762.862.566.075.087.512450.0
Shares outstanding69m69m68m68m67m66m65m64m62m60m56m55m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* 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-K for the period ended 31 December 2023, filed 27 February 2024, accession 0001345016-24-000009: the filing on EDGAR. All of Yelp Inc.'s filings: EDGAR company page.

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