Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, August 12, 2022

Article Excerpt

YELP INC., $38.23, symbol YELP on New York, lets people rate and review local businesses such as restaurants, retail stores and service providers. They do that by detailing their experiences for other patrons and assigning a business a rating of up to five stars. The San Francisco-based company also connects customers directly to businesses by allowing them to book reservations. In the three months ended June 30, 2022, the company’s revenue increased 16.2%, to $298.9 million from $257.2 million a year earlier. Sales were higher due to solid advertiser demand for its advertising products. Yelp earned $8.0 million, or $011 a share, in the latest quarter. That was up 90.1% from $4.2 million, or $0.06. As part of its successful quarter, Yelp said that the number of paying advertiser locations grew by 8%, to 569,000 from 528,000. That was also 4% higher than in the first quarter of 2022. The company repurchased $50 million of its shares during the second quarter at an average…