Filing Flows › Yelp (YELP) › Q2 2025
Yelp (YELP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Yelp (YELP) reported revenue of $370M for the second quarter 2025 (Q2 2025), +4% from a year earlier and +3% from the quarter before. Operating margin was 14.4%, net earnings $44.1M (11.9% of revenue).
Yelp, Q2 2025: revenue $370M (+4% year over year), operating margin 14.4%, net earnings $44.1M, operating cash flow $58.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $370M | +3% | +4% |
| Operating profit | $53.3M | +81% | +34% |
| Net earnings | $44.1M | +81% | +16% |
| Operating cash flow | $58.0M | -41% | +46% |
| Free cash flow | $45.0M | — | +50% |
What changed
Revenue was $370.4M in Q2 2025, up 4% year over year and up 3% from the previous quarter. Services was the largest line at 65% of revenue. Services added $17.8M year over year (up 8%), 133% of the total change. Restaurants, Retail & Other declined 5%.
Operating profit was $53.3M, a 14.4% margin (up 3.3 points year over year). Of the extra revenue versus a year earlier, 101% reached operating profit, above the 11% margin then. Total costs fell 0% while revenue rose 4%. The fastest-growing cost line was Cost of revenue (+16%). Net earnings were $44.1M, up 16% year over year. The effective tax rate was 25.3%.
Operating cash flow was $58.0M (up 46% year over year), 132% of net earnings. Non-cash charges added back $12.4M of depreciation and amortization and $34.8M of share-based compensation. Working capital and other items used $33.2M. After purchases of property, equipment and software ($13.0M), free cash flow as the company reports it was $45.0M.
Questions
What was Yelp's revenue in the second quarter 2025?
Yelp (YELP) reported revenue of $370M for the second quarter 2025 (Q2 2025), +4% from a year earlier and +3% from the quarter before.
Was Yelp profitable in the second quarter 2025?
Operating profit was $53.3M (14.4% of revenue) and net earnings $44.1M.
Source: Yelp 10-Q on SEC EDGAR.