Yandex: Net quarterly profit climbed 28%
The “I” in the previous year showed that its development strategy was taken correctly. Proceeds of “Yandex” on US GAAP in the 4th quarter of 2017 increased by 26% and amounted to 27,860 billion compared to 22,119 billion rubles in the 4th quarter of 2016, you can learn from the report of the company. Adjusted EBITDA grew by 39 percent to 9,293 billion. The profitability of EBITDA in October-December amounted to 33.4 per cent as against 30.3% a year earlier. Adjusted net profit increased by 62% to 5,249 billion. Net profit jumped 2.9 times (!) and amounted to 3.5 billion rubles.
In the revenue structure of the “I” about 95% of is revenues from online advertising (contextual and media – Interfax), like all Internet companies involved in the communication, storage and transmission of data. For the quarter, revenues in this segment grew 19 percent, to 25.1 billion rubles. Income from services of “Yandex” also has tripled, to $ 2.8 billion. This figure is associated mostly with income growth of the service “Yandex.Taxi”. The revenue of the company for 2017 increased by 24% to 94,054 billion.
Adjusted EBITDA grew 11% to $ 29,075 billion rubles, Net profit rose 28 per cent to 8,656 billion rubles., adjusted net profit – on 9%, to 15,359 billion rubles. the company’s stock prices reacted natural growth of the company published strong financial results that surpassed market expectations as revenue and net profit. The most rapid growth in the company demonstrated by such directions as Kinopoisk, Yandex.Music, Yandex.Afisha, Yandex Data Factory and Zen. According to published statements for previous periods, we can expect further revenue growth of Yandex and its services during this year.
IR Global Capital