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Yoy Meaning is used in financial analysis to present growth rates of revenue, profits, expenses or market growth. Analyzing the performance over the same period of the preceding and subsequent year, the role of fluctuations or one-off situations is excluded. For example, let us assume that a company earns $100, 000 in Q1 2023; then, in Q1 2024, it has 10% more for the same period; it can be considered growth. This comparison enables stakeholders with regard to the company’s future performance, overall growth, and trend analysis to make informed decisions. YOY more useful when comparing data sets with some reference and that is the reason why YOY is especially helpful for industries that experience seasonal fluctuations such as sales during holidays or crop farming.