Yandex (NASDAQ: YNDX): Q3 2019 Earnings Snapshot

— Yandex N.V. (NASDAQ: YNDX) reported its third-quarter 2019 earnings of RUB13.85 ($0.22) per share versus $0.36 per share expected. Adjusted net income increased by 12% to RUB6.9 billion ($106.7 million).

— Revenues grew by 38% to RUB45 billion ($698.8 million) versus $703.87 million expected. The results were driven by contributions from Search and Portal, Taxi and Drive.

— Search queries in Russia grew 9% compared with Q3 2018. Paid clicks on Yandex’s and its partners’ websites, in aggregate, increased 22%. The average cost per click decreased by 2% compared with Q3 2018.

— Revenues from the Taxi segment grew 89% on better ride-sharing businesses driven by an increase in the number of rides and incentives optimization, the strong growth of corporate Taxi offering. The number of rides in the Taxi segment grew by 59%.

— Online advertising revenues grew by 21% that include revenues derived from performance and brand advertising on Yandex properties and in its advertising network.

— Looking ahead into the full year 2019, the company now expects ruble-based revenues excluding Yandex.Market to grow in the range of 36% to 38%.

— The ruble-based revenue for Search and Portal is expected to grow in the range of 20% to 21% in the full year.

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