Yelp cuts revenue outlook as ad pressure persists
Yelp reduced its annual revenue guidance citing continued advertising pressure, while pausing share repurchases to pay down debt. However, other revenue surged 82% year-over-year to $34 million, driven by AI products like Yelp Host and Hatch, which reached a $37 million run rate. Yelp Assistant contributed to project growth, offsetting some core ad headwinds.