Yandex (YNDX) Tops Q1 Views

Yandex (NASDAQ: YNDX) reported Q1 EPS of RUR6.61, RUR0.32 better than the analyst estimate of RUR6.29. Revenue for the quarter came in at RUR16.47 billion versus the consensus estimate of RUR15.41 billion.

Q1 2016 Consolidated Financial Highlights

• Revenues of RUB 16.5 billion ($243.7 million), up 34% compared with Q1 2015
• Adjusted EBITDA of RUB 5.8 billion ($85.3 million), up 62% compared with Q1 2015, adjusted EBITDA marginof 35.0%
• Adjusted net income of RUB 3.2 billion ($46.9 million), up 41% compared with Q1 2015, adjusted net income margin of 19.2%
• Cash, cash equivalents, term deposits and short-term investments in debt securities of RUB 60.5 billion ($895.1 million) as of March 31, 2016

“Yandex is off to a solid start in 2016 and we are starting to see signs of stabilization in the overall economic environment," said Arkady Volozh, Chief Executive Officer of Yandex. "Based on the current conditions, we are raising our revenue outlook for the year from a range of 12% to 18% to a revised range of 15% to 19%.”

“We continue to invest aggressively in our three business units - Yandex.Taxi, Classifieds and Yandex.Market - to accelerate their growth in 2016," said Alexander Shulgin, Chief Operating Officer of Yandex. "Going forward, we will share more financial information on these units to provide shareholders with greater visibility into their performance.”

For earnings history and earnings-related data on Yandex (YNDX) click here.

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