Yelp Q4 EPS of $0.61 Tops by 29%, Revenue at $360M
Yelp reported Q4 EPS of $0.61 beating estimates by $0.14 (29%), with revenue of $360.0 million exceeding forecasts by 0.5% despite a 0.5% year-over-year decline. Paying advertising locations dropped to 496 thousand, ad services revenue fell 2.2% while Other Services revenue surged 33.5%.
1. Q4 Results Surpass Estimates
For the quarter ended December 2025, Yelp delivered adjusted EPS of $0.61 versus consensus of $0.47, marking a 29.1% surprise. Revenue came in at $359.99 million, 0.5% above the $358.21 million estimate, though down 0.5% from $361.95 million a year earlier.
2. Ad Revenue and Location Metrics
Yelp reported 496 thousand paying advertising locations against an analyst estimate of 503 thousand. Advertising revenue totaled $338.21 million (-2.2% Y/Y), with Services ad revenue down 2.2% to $231.38 million and Restaurants, Retail & Other ad revenue off 11.6% at $106.83 million, while Other Services revenue jumped 33.5% to $21.78 million.
3. Stock Performance and Outlook
Yelp shares have declined roughly 23.6% year-to-date compared with a 1.4% gain for the broader market. Future stock momentum will hinge on management commentary around AI investments, outlook for ad spend recovery and revisions to consensus earnings forecasts.