MOSCOW and AMSTERDAM, the Netherlands, Oct. 25, 2019 (GLOBE NEWSWIRE) — Yandex (NASDAQ and MOEX: YNDX), one of Europe’s largest internet companies and the leading search provider in Russia, today announced its unaudited financial results for the third quarter ended September 30, 2019.Q3 2019 Financial Highlights(1)(2)(3)Q3 2019 consolidated financial results Revenues of RUB 45 billion ($698.8 million), up 38% compared with Q3 2018 Net income of RUB 4.4 billion ($68.0 million), down 1% compared with Q3 2018; net income margin of 9.7% Adjusted net income of RUB 6.9 billion ($106.7 million), up 12% compared with Q3 2018; adjusted net income margin of 15.3% Adjusted EBITDA of RUB 13.9 billion ($216.1 million), up 29% compared with Q3 2018; adjusted EBITDA margin of 30.9% Cash, cash equivalents and term deposits as of September 30, 2019:RUB 85.4 billion ($1,326.4 million) on a consolidated basisOf which RUB 25.7 billion ($399.3 million) related to Taxi segment Q3 2019 Operational and Corporate HighlightsShare of Russian search market, including mobile, averaged 56.6% in Q3 2019, up from 55.9% in Q3 2018 and down from 56.9% in Q2 2019, according to Yandex.RadarSearch share on Android in Russia was 52.8% in Q3 2019, up from 49.1% in Q3 2018 and 52.3% in Q2 2019, according to Yandex.RadarSearch queries in Russia grew 9% compared with Q3 2018Paid clicks on Yandex’s and its partners’ websites, in aggregate, increased 22% compared with Q3 2018Average cost per click decreased 2% compared with Q3 2018Number of rides in the Taxi segment grew 59% year-on-year compared with Q3 2018MLU B.V., Yandex’s ride-sharing and food delivery joint venture with Uber, announced an agreement to acquire the IP and call-centers of the Vezet group of companies in Russia“I am delighted with another excellent set of results,” said Arkady Volozh, Chief Executive Officer of Yandex. “In Q3, our ride-sharing business delivered sequential acceleration in ride growth, while Zen continued to grow its user engagement, and Yandex.Drive became the second largest car-sharing service in the world. Our strong IT expertise allows us to develop new business models, and we aim to continue preserving and growing the IT talent pool both for Yandex and the country as a whole.”“We delivered 38% year-on-year revenue growth in Q3 with great contributions from Search and Portal, Taxi and Drive,” said Greg Abovsky, Chief Operating Officer and Chief Financial Officer of Yandex. “Our core business continued delivering strong results and demonstrated solid margins, while our business units and experiments maintained triple digit revenue growth, and now represent 36% of consolidated revenues.”The following table provides a summary of our key consolidated financial results for the three and nine months ended September 30, 2018 and 2019, which includes Yandex.Market financial results through April 27, 2018, the date as of which that business was deconsolidated:
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