The NASDAQ-listed Russian Internet search giant Yandex today announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2016.
In 2016, the company’s revenues amounted to 75.9 billion ($1,251.7 million), up 27% compared with FY 2015. Its net income of reached 6.8 billion rubles ($111.8 million), down 30%, with a net income margin of 8.9%.
Adjusted EBITDA amounted to 26.1 billion rubles ($430.6 million), up 25% from 2015 with an adjusted EBITDA margin of 34.4%.
“Yandex delivered 27% revenue growth in 2016, driven by improving macro conditions and continued innovation across the technology stack,” said Arkady Volozh, Chief Executive Officer of Yandex. “Our deep experience with AI and machine learning is enabling us to make significant advancements in advertising technologies and continually enhance user experience.”
The company claims that its share of Russian search market, including mobile, averaged 55.4% in Q4 2016 compared to 55.9% in Q3 2016, citing LiveInternet data.
In Q4 2016, paid clicks on Yandex’s and its partners’ websites, in aggregate, increased 12% compared with Q4 2015. Average cost per click grew 8% compared with Q4 2015
The number of rides managed by Yandex.Taxi grew 401% compared with Q4 2015.
“Yandex.Taxi was a real highlight, growing ride volumes in December 2016 by 452% year-over-year thanks to investments made in geographic expansion and technological infrastructure. Based on the potential we see in Taxi, E-commerce and Classifieds, we will continue to invest for growth in 2017,” said Alexander Shulgin, Chief Operating Officer of Yandex.
Yandex reports 27% revenue growth in 2016, claims 55% market shareRead More
