Yelp Reports Record Revenue for 2024, Eyes Continued Growth in 2025

Published 16 hours agoYELP

Yelp Reports Record Revenue for 2024, Eyes Continued Growth in 2025

Yelp Inc. has reported significant growth in its 2024 financial results, achieving record revenue and profit figures. The company announced a net revenue of $1.41 billion for the year, representing a 6% increase from the previous year. In terms of net income, Yelp experienced an impressive 34% rise to $133 million, resulting in a 9% net income margin. Adjusted EBITDA also increased by 8% to $358 million, with a 25% adjusted EBITDA margin.

Fueling this growth was Yelp's services segment, where advertising revenue saw an 11% year-over-year increase, reaching $879 million. The successful introduction of over 80 AI-driven features has enhanced how consumers connect with service professionals, boosting engagement and attracting contributions of 21 million new reviews in 2024. These new reviews bring the total number to 308 million, marking a 7% increase from the previous year.

Looking forward, Yelp has set a positive outlook for 2025. The company projects its net revenue to be between $1.470 billion and $1.485 billion, with an expected adjusted EBITDA ranging from $345 million to $360 million. The results and projections underscore Yelp's strategic emphasis on AI enhancements, illustrating its commitment to solidifying its market position. Meanwhile, Reuters has noted that Yelp's stock recently traded at $35.74, reflecting a slight change of 0.57 USD or 0.02% from the previous close, highlighting investor attention following these announcements.

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