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Yelp Reports Second Quarter 2021 Financial Results 08/05/2021 Second quarter Net revenue grew 52 % year over year to $ 257 million , resulting in a positive Net income of $ 4 million Adjusted EBITDA increased by 473 % year over year to a record $ 64 million Raises full year outlook to $ 1.01 billion to $ 1.03 billion of Net revenue and $ 200 million to $ 220 million of Adjusted EBITDA¹ Board of Directors authorized $ 250 million increase to stock repurchase program SAN FRANCISCO -- ( BUSINESS WIRE ) -- Yelp Inc. ( NYSE : YELP ) , the company that connects people with great local businesses , today posted its financial results for the second quarter ended June 30 , 2021 in the Q2 2021 Shareholder Letter available on its Investor Relations website at www.yelp-ir.com . " The Yelp of 2021 looks very different than it did when we began implementing our strategic initiatives in 2019 , as we continue to connect consumers with local businesses through trusted content and reviews , " said Jeremy Stoppelman , Yelp co - founder and CEO . " We elevated the pace of product innovation , and made significant progress on our plan to drive advertising revenue growth from our Services categories as well as our Self - serve and Multi - location channels . This consistent execution of our multi- year strategy has transformed Yelp into a structurally stronger business . " " Our strong second quarter results give us the confidence to raise our full - year outlook , " said David Schwarzbach , Yelp's CFO . " We achieved 52 % year - over - year revenue growth and record Adjusted EBITDA , even as we invested behind our initiatives . We continue to see a broad set of opportunities to drive significant returns and shareholder value in the long term . ” 1 Yelp has not reconciled its Adjusted EBITDA outlook to GAAP Net income ( loss ) because it does not provide an outlook for GAAP Net income ( loss ) due to the uncertainty and potential variability of Other income , net and Provision for ( benefit from ) income taxes , which are reconciling items between Adjusted EBITDA and GAAP Net income ( loss ) . Because Yelp cannot reasonably predict such items , a reconciliation of the non - GAAP financial measure outlook to the corresponding GAAP measure is not available without unreasonable effort . We caution , however , that such items could have a significant impact on the calculation of GAAP Net income ( loss ) . For more information regarding the non - GAAP financial measures discussed in this release , please see " Non - GAAP Financial Measures " below . Quarterly Conference Call Yelp will host a live Q & A session today at 2:00 p.m. Pacific Time to discuss the second quarter financial results and outlook for the third quarter and full year of 2021. The webcast of the Q & A can be accessed on the Yelp Investor Relations website at www.yelp-ir.com . A replay of the webcast will be available at the same website . About Yelp Yelp Inc. ( www.yelp.com ) connects people with great local businesses . With unmatched local business information , photos , and review content , Yelp provides a one - stop local platform for consumers to discover , connect , and transact with local businesses of all sizes by making it easy to request a quote , join a waitlist , and make a reservation , appointment , or purchase . Yelp was founded in San Francisco in July 2004 . Yelp intends to make future announcements of material financial and other information through its Investor Relations website . Yelp will also , from time to time , disclose this information through press releases , filings with the Securities and Exchange Commission , conference calls , or webcasts , as required by applicable law . Forward - Looking Statements This press release contains forward - looking statements relating to , among other things , Yelp's future performance and opportunities to drive significant returns and shareholder value in the long term , that are based on its current expectations , forecasts , and assumptions that involve risks and uncertainties .