- Yandex NV (NASDAQ: YNDX) reported fourth-quarter FY21 revenue growth of 54% year-on-year to $1.485 billion.
- Yandex is one of Europe's largest internet companies and the leading search and ride-hailing provider in Russia.
- Revenues from Online advertising grew 26% Y/Y to RUB 48.4 billion, Taxi segment, excluding sales of goods, rose 86% Y/Y to RUB 32.9 billion, sales of goods increased 74% Y/Y to RUB 17.7 billion, and Other revenues grew 111% Y/Y to RUB 11.3 billion.
- The total cost of revenue rose 67%, and operating expenses increased by 68% Y/Y. The company reported an operating loss of $(35.1) million.
- EPS loss was $(0.16).
- Yandex generated $45.8 million in operating cash flow and held $1.07 billion in cash and equivalents.
- Outlook: Yandex sees FY22 revenue of RUB 490 billion - RUB 500 billion.
- Yandex sees Search & Portal ruble-based revenue in mid-to-high teens.
- Price Action: YNDX shares traded higher by 10.2% at $49.80 in the premarket on the last check Tuesday.
Read at Benzinga