Yelp Inc (NYSE: YELP) has reported a decline in net profit for the fourth quarter of 2022 when the business information platform’s revenues increased.
The company reported a net income of $20.1 million or $0.28 per share for the December quarter, compared to $23.2 million or $0.30 per share a year earlier. Net revenues increased to $309.1 million in the latest quarter from $273.4 million in the same period of last year.
“Looking ahead, we’re confident in our plan to drive profitable growth over the long term as we deliver on our mission to connect consumers with local businesses,” said Yelp’s CEO Jeremy Stoppelman.
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