Yelp Inc. took its long-simmering feud with Google to the next level Wednesday, filing an antitrust lawsuit against the tech giant and accusing it of using its dominant position to crush competition.
Yelp complained for more than a decade that Google tilted the search market in its favor. After its rival's landmark legal loss, it finally decided to sue.
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Yelp (YELP) is well positioned to outperform the market, as it exhibits above-average growth in financials.
Shares of Yelp barely reacted to a very strong "beat and raise" in Q2, and the stock remains down nearly 30% year to date. Yelp's growth in its home services category continues to outweigh macro-driven headwinds in restaurants and retail. The company also raised its full-year adjusted EBITDA outlook by ~3%.
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YELP's second-quarter results reflect gains from the traction in advertising Services categories, driven by ad clicks, partially offset by softness in RR&O businesses.
While the top- and bottom-line numbers for Yelp (YELP) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Yelp (YELP) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.21 per share a year ago.
Yelp Inc. (NYSE:YELP ) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Kate Krieger - Director, IR Jeremy Stoppelman - CEO David Schwarzbach - CFO Jed Nachman - COO Conference Call Participants Eric Sheridan - Goldman Sachs Cal Bartyzal - Craig-Hallum Capital Group Colin Sebastian - Baird Sergio Segura - KeyBanc Josh Beck - Raymond James Dion Lee - Evercore Georgia Anderson - Wolfe Research Operator Hello, and welcome to the Q2 2024 Yelp, Inc. Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to Kate Krieger, Director, Investor Relations.
Back in 2004, Yelp's crowd-sourced business review platform helped create an era of commerce defined by at-your-fingertips convenience. That was then.