Yandex (YNDX -7.9%) slumps after missing Q4 estimates, thanks partly to a declining ruble. 2013...

|About: Yandex N.V. (YNDX)|By:, SA News Editor

Yandex (YNDX -7.9%) slumps after missing Q4 estimates, thanks partly to a declining ruble. 2013 guidance is for revenue growth of 28%-32% vs. a consensus for a 29.7% increase. Queries +26% Y/Y (down from Q3's +31%), advertisers +5% Q/Q (even with Q3) to 213K. Text ads on Yandex sites +40% (+39% in Q3) and majority of revenue, 3rd-party text ads +41% (+55% prior), display ads +12% (+25% prior). Paid clicks +26% Y/Y (even with query growth), search ad prices +11%. Traffic acquisition costs nearly flat as % of revenue, SG&A expenses soared 81%. (PR) (slides)