Yandex (YNDX) Reports Q1 EPS of $0.12, Beats on Revenues

Yandex (NASDAQ: YNDX) reported Q1 EPS of $0.12, versus $0.27 reported last year. Revenue for the quarter came in at $464 million versus the consensus estimate of $443.5 million.

Q1 2018 Financial Highlights(1)(2)

• Revenues of RUB 26.6 billion ($464.0 million), up 29% compared with Q1 2017
• Net income of RUB 1.9 billion ($32.3 million), up 126% compared with Q1 2017; net income margin of 7.0%
• Adjusted net income of RUB 4.0 billion ($70.0 million), up 7% compared with Q1 2017; adjusted net income margin of 15.1%
• Adjusted EBITDA of RUB 7.7 billion ($134.5 million), up 12% compared with Q1 2017; adjusted EBITDA margin of 29%
• Cash, cash equivalents and term deposits of RUB 95.2 billion ($1,662.2 million) as of March 31, 2018, including cash, cash equivalents and term deposits of Yandex.Taxi in total amount of 26.2 billion ($457.5 million)

Q1 2018 Operational and Corporate Highlights

• Share of Russian search market, including mobile, averaged 56.5% in Q1 2018, up from 54.7% in Q1 2017 and flat compared with 56.5% in Q4 2017, according to Yandex.Radar
• Search share on Android in Russia was 46.3% in Q1 2018, up from 45.0% in Q4 2017 and 38.0% in Q1 2017
• Search queries in Russia grew 10% compared with Q1 2017
• Paid clicks on Yandex’s and its partners’ websites, in aggregate, increased 7% compared with Q1 2017
• Average cost per click grew 8% compared with Q1 2017
• Number of rides in the Taxi segment grew 222% year-on-year compared with Q1 2017; this includes Uber rides since February 7, 2018
• On February 7, 2018, Yandex completed the combination of Yandex.Taxi and Uber in Russia and neighbouring countries
• Yandex created Media Services (KinoPoisk, Yandex.Music, Yandex.Afisha and Yandex.TV program) business unit
• Yandex launched Yandex.Drive, a car sharing service

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

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