Yelp Inc. Q3 2026 Earnings Recap

Yelp fell 5.2% after earnings, as investors likely focused on continued ad weakness and a cautious outlook for its core business. Revenue declined 1% year over year, with Restaurant, Retail & Other ad revenue down 13% and ad clicks down 8%.

Key Takeaways

• Q3 net revenue was $371 million, down 1% year over year and $1 million above the high end of the company’s outlook range.
• Services ad revenue fell 2% to $238 million; RR&O ad revenue fell 13% to $99 million. Paying advertising locations declined 1% to 509,000.
• Net income declined 12% to $35 million, or $0.63 per diluted share. Adjusted EBITDA fell 6% to $92 million, though it was $17 million above the high end of the outlook range.
• Other revenue rose 82% to a record $34 million, driven by Hatch, data licensing and food ordering. Hatch’s annual run-rate revenue reached about $37 million, up 55% year over year.
• Yelp Assistant generated about 10% of Request-a-Quote projects, contributing to overall project growth of about 10% year over year; Yelp Host handled calls at a 2.5 million annual run rate in October.