Shares of “Yandex” rose 9% after the publication of quarterly reports – RBC

Shares of “Yandex” increased by more than 9%, after the publication of the quarterly statements of the company. As of 18:54 MSK, the paper company, traded on the New York Stock Exchange, NASDAQ, grew by 9,23%.

The price per share is $ 20.24. At the opening, it was $ 19.55, and at its peak reached $ 20.29. The market capitalization of the service is estimated at $ 7.92 billion.

According to reports, “Yandex”, in the first quarter, the company lost about 1.3 billion rubles .. in connection with the strengthening of the ruble against the dollar. Net income decreased by almost two times compared to the first quarter of 2015, from 2.1 billion to 1.1 billion rubles

In “Yandex” note that the effect of currency fluctuations -. It is a “paper “factor. A more correct to assess the state of the business is the indicator of “adjusted net income» (Adjusted net income), purified from the currency factor, said a spokesman for the service Asya Melkumova. It was on his watch financial analysts, she specified.

Adjusted net income rose by 41% in the first quarter, to 3.2 billion rubles. On this “Yandex” indicator has returned to a positive trend: over the past year, quarterly adjusted net profit decreased in the range of 8-16%. The last time the index grew in the fourth quarter of 2014. Consolidated revenue for the first quarter of 2016 increased by 34%, to 16.5 billion rubles. Adjusted earnings before taxes, interest, depreciation and amortization (EBITDA) increased by 62%, to 5.8 billion rubles. on this indicator margin was 35%.

Financial results “Yandex” for the first quarter were above expectations, they noted in their reports to clients, analysts Citi, Goldman Sachs, «VTB Capital.” Revenue Internet companies should increase by 21%, predicted at Citi, and sets according to the consensus forecast compiled by Bloomberg – 24%. Citi analysts expect the EBITDA margin to grow by 33.6%, then 30.3% of consensus forecast.

In addition, “Yandex” has increased its own forecasts for the pace of revenue growth in 2016 with 12- 18 to 15-19%, said co-founder and head of the group of companies “Yandex” Arkady Volozh.