Net profit of "Yandex" has grown by 549%
OREANDA-NEWS Russian Internet company Yandex presented financial results for the third quarter of 2018. The company's net profit without taking into account "Yandex.Market " increased by 549% to 4.7 billion rubles.
The company's shares began to grow since the opening of the trading session. By the time of publication of the report, the securities rose by 4.5%, and after the results, the growth increased to 8.6%.
Consolidated revenues of "Yandex" in the third quarter increased by 39% compared to the same indicator for the third quarter of 2017, to 32.6 billion rubles. More than 80% of the revenue of the company had sales of online advertising. Revenue in this direction increased by 18%. Net profit taking into account the results of " Yandex.Market " increased by 459% and amounted to 4.8 billion rubles.
Revenue excluding "Yandex.Market", increased by 44%-to 32.6 billion rubles.Revenue from the sale of Internet advertising jumped by 24%. The company's share in the Russian search market, including mobile search, averaged 55.9% in the reporting quarter. In the third quarter of last year, it was 54.9%.
Division "Yandex.Taxi" became profitable. The number of trips in the Taxi segment increased by 131%. This number of trips includes Uber trips for the full third quarter of 2018. Revenue in the segment increased by 344% to 5.1 billion rubles.
In the third quarter, 4.5 million shares were purchased under the share repurchase program, which the company announced in the second quarter of 2018. The company announced that in 2018, the revenue may increase by 35 to 38% compared to last year. This is the third increase in forecasts for this year, calculated in the BCS.
In September, Yandex launched the public cloud platform Yandex.Cloud. In October, Yandex increased its share in the discount aggregator and the Edadeal cashback service from 10% to 100%.
In addition, "Yandex.Taxi" bought a share of 83.3% in the delivery service sets for cooking "Party food". Another 16.7% remained with three co-owners of the "food Party", but "Yandex.Taxi" can buy their shares in the next few years. Now to attract new users "food Party "will be able to use the logistics platform"Yandex".
On October 24, Sberbank and Yandex launched the Beru trading platform, the testing of which began in may 2018. The service became a joint project of two companies based on Yandex.Market.» The store presents 100 thousand commodity items from 1 thousand sellers, and next year the number of positions will reach 250 thousand, promised the General Director of the company "Yandex.Market" Maxim Grishakov. Now the online shopping market in Russia now occupies only 4% of the total volume of consumer purchases, while in developed countries this figure reaches 15%.
On October 18, the company's shares collapsed by more than 10% after rumors of a possible sale of 30% of the company to Sberbank. Within three days, the company's capitalization fell by 25%; so far, the quotes have not been able to return to the lost positions.