Yandex Announces First Quarter 2019 Financial Results

Total revenues of Yandex.Market Group amounted to RUB7.2 billion, which implies year-over-year growth rates of 89%. Revenue from the price comparison segment accelerated to 33% in Q2 compared to 27% in the previous quarter. The yndx earnings date adjusted EBITDA loss in Q2 of Yandex.Market was RUB1.8 billion and adjusted net income was negative RUB1.8 billion as well. Yandex NV is an internet and technology company and operating internet search engines in Russia.

We’re spending a lot more time on it and I think, importantly, post the sale of our minority stake in Yandex.Money, we are free and clear to go and pursue those opportunities. We’ll probably do those that prudently and slowly, but we think this is a very important business for us to have together with e-commerce, together with Taxi, together all the other businesses that we have. That business is alive and well, it’s growing rapidly.

Yndx Yandex N V. Q4 2020 Earnings Call

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Grocery delivery is now available to more than 20 million people in Moscow, Moscow region and Saint Petersburg and . We started to provide last-mile delivery options for large retail chains, e-commerce and classified companies. Now, we offer thousands of businesses of all sizes a last-mile delivery solution.

Yandex N V Class A (yndx)

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So, would be great to understand if businesses generally going well, where are the risk that do not allow you to give some guidances for the next two quarter. On the competitive front, look I’d say competition is not new. Russia is a very competitive market, it’s one of the — as far as I know one and only two really open markets where companies like Google have real competition. There Google is not limited any way, shape, or form, from participating in this market and despite of that, our market share on Android, which is Google’s own operating system is almost 60% compared to Google’s 40%.

Yandex Self Driving Group Gets $150 Million, Partners With Uber To Bring Autonomous Vehicles To U S.

The tables at the end of this release provide detailed reconciliations of each non-GAAP financial measure we use to the most directly comparable U.S. Net income was RUB 3.1 billion ($48.3 million) in Q1 2019, up 69% compared with Q1 2018. Interest income in Q was RUB 827 million, compared with RUB 708 million in Q1 2018.

This compares to earnings of $0.32 per share a year ago. These figures are adjusted for non-recurring items. Highlights Acy Superior For Trading important summary options statistics to provide a forward looking indication of investors’ sentiment.

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But I think it shows you kind of the steps that we took early on and how we try to manage the business proactively and manage the profitability there. As far as things like investments in media and content, of course we’re going to be doing more of those. We are really happy with how media services is doing. We’re also investing in content and in Search and Portal as well. And look, those are decisions that we’re making because we think that they have positive NPV for the business.

How Yandex Plans To Expand Its Autonomous Robot Delivery Service

As a result, Eats is now available in 130 plus cities and 86 of them, we provide our own delivery. All these initiatives allowed us to finish the quarter in excellent shape. Although we see some continued uncertainty in the short-term, we are confident that we remain very well positioned to deliver sustainable long-term growth. We believe that after the recent capital raise with ample financial flexibility to continue investing into all these projects, while maintaining our usual prudent approach to capital allocation. Another important milestone this quarter was the progress on integration of video into the feed.

Our goal is to help consumers and businesses better navigate the online and offline world. Since 1997, we have delivered world-class, locally relevant search and information services. Additionally, we have developed market-leading on-demand transportation services, navigation products and other mobile applications for millions of consumers across the globe. Yandex, which has 33 offices worldwide, has been listed on the NASDAQ since 2011. The volatility of a stock over a given time period.

In total, we allocated over RUB1.5 billion to various initiatives, including our Helping Hand program, our support fund for taxi drivers in couriers, advertising credits to small and medium businesses, as well as our education efforts. The hard work of all our teams allowed us to minimize the negative impact on our financial performance. And Greg will share more details on this a bit later.

This led to an improvement in delivery service coverage and quality. Q2 was indeed very challenging, but I’m very pleased with what we were able to achieve during this quarter. The quarter began with a significant decline in ride-hailing and we had to rapidly adjust to the new reality. We focused on creating additional demand for our driver partners by connecting them to food delivery last-mile logistics services.

Financial Performance

Now, let me give you an update on the Yandex.Market. GMV marketplace increased by 3.5 times in Q2, supported by wider assortment, higher number of orders and strong average check . Similar to other businesses which have benefited during the pandemic, the GMV dynamic for the marketplace has been normalizing in July and month-to-date growth is 2.6 times. Now about 6,000 partners sell their goods on our marketplace.

We’ve disclosed our key financials in our press release. It’s been a very challenging quarter, but we’re very pleased that we managed to finish with a positive adjusted net income and higher than expected adjusted EBITDA despite the fact that we had a number of one-off expenses. We had over RUB1.5 billion spent in a variety of targeted COVID-related initiatives, including RUB408 million of expenses for personal protective equipment, our Helping Hand project and the driver and courier support fund.

It also includes an industry comparison table to see how your stock compares to its expanded industry, and the S&P 500. From a financial perspective, YNDX stock is riding a strong wave of momentum. Since the beginning of fiscal 2015, Yandex has only missed its earnings per share target twice, both in the fourth quarter. On average, its beats register a positive surprise of more than 20%.

The past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss, in a down market. There is always the potential of losing money when you invest in securities, or other financial products. Investors should consider their investment objectives and risks carefully before investing.

BY Matt Egan