Yandex Announces Second Quarter Earnings

Yandex (NASDAQ:YNDX), a leading internet search company in Europe announced its second quarter financial results, reporting revenues of US$656.3 million and ADJUSTED EBITDA of US$207.6 million. Both figures rose by over 40 percent year-over-year.

As quoted in the press release:

Cash, cash equivalents and term deposits as of June 30, 2019:

• RUB 75.0 billion ($1,189.2 million) on a consolidated basis
• Of which RUB 24.9 billion ($395.5 million) related to Taxi segment

Q2 2019 Operational and Corporate Highlights

• Share of Russian search market, including mobile, averaged 56.9% in Q2 2019, up from 56.2% in Q2 2018 and down slightly from 57.0% in Q1 2019, according to Yandex.Radar

• Search share on Android in Russia was 52.3% in Q2 2019, up from 47.8% in Q2 2018 and 51.2% in Q1 2019, according to Yandex.Radar

• Search queries in Russia grew 9% compared with Q2 2018

• Paid clicks on Yandex’s and its partners’ websites, in aggregate, increased 17% compared with Q2 2018. Excluding Yandex.Market, paid clicks grew 20% compared to Q2 2018

• Average cost per click grew 2% compared with Q2 2018. Excluding Yandex.Market, average cost per click increased 1% compared to Q2 2018

Click here to read the full press release.