Wed, Feb. 18, 9:29 AM
- Yandex (NASDAQ:YNDX) is guiding for 15% Y/Y Q1 ruble-based revenue growth, below a 16.9% consensus but better than feared given Russia's macro woes.
- Q4 revenue (RUR14.7B, or $260.7M) was up 21% Y/Y on a ruble basis, but down 29% from the year-ago level (RUR12.1B, or $369.3M) on a dollar basis. However, EPS (RUR23.44, or $0.42) rose from year-ago levels (RUR10.30, or $0.31) on both a ruble and dollar basis.
- On a ruble basis, text ad sales on Yandex sites (search ad-driven) rose 24% Y/Y to RUR8.01B, a slowdown from Q3's 33%. Ad network text ad sales +16% to RUR2.83B; display ad sales on Yandex sites -2% to RUR1.01B (a recent weak spot); ad network display sales +34% to RUR137M.
- Total ruble-based revenue growth fell to 21% from Q3's 28%. Paid clicks +18%; ad prices +3%.
- Boosting EPS: Traffic acquisition costs fell to 21.1% of revenue from 23.4% a year ago. SG&A spend fell to 15.7% of revenue from 16.4%, but R&D rose to 18.2% from 13.7%. $18.9M was spent on buybacks.
- Search queries rose a modest 9% Y/Y. LiveInternet estimates Yandex had a 59.7% Q4 search share, down from 60.3% in Q3 and 61.9% a year ago.
- Yandex's shares, hit hard in recent months by the ruble and crude oil's plunge, have risen to $17.99 in premarket trading.
- Q4 results, PR
Wed, Feb. 18, 6:05 AM
Tue, Feb. 17, 5:30 PM
Oct. 23, 2014, 9:26 AM
- Yandex (NASDAQ:YNDX) now expects 27%-30% 2014 ruble-based revenue growth, improved from a prior 25%-30%. The ruble has fallen sharply against the dollar this year.
- Q3 adjusted EPS of RUR12.00 ($0.29) beat an RUR10.43 consensus.
- Sales of text ads on Yandex's sites (driven by search ads, 69% of revenue) +33% Y/Y to RUR7.01B. Ad network text ad sales +19% to RUR2.34B. Display ad sales (mostly on Yandex sites) +6% to RUR782M.
- Traffic acquisition costs fell to 21.2% of revenue from 21.8% in Q2 and 22% a year ago. Paid clicks +19% Y/Y (down from Q2's +36%), ad prices +8%, search query volume +13% (down from Q2's +19%). The slowdown is tied to Yandex entering the second year of its deal to handle paid search for Mail.ru.
- R&D spend rose to 16% of revenue from 14.4% a year ago. But SG&A fell to 13.9% of revenue from 16.3%.
- Q3 results, PR
Oct. 23, 2014, 6:02 AM
Jul. 29, 2014, 1:12 PM
- Yandex (YNDX +2.8%) is reiterating guidance for 25%-30% full-year ruble-based revenue growth; consensus is at 27.1%. Q2 adjusted EPS of RUR10.15 ($0.30) slightly beat a consensus of RUR10.08/share.
- Thanks to a mix shift towards ad network sales TAC rose to 21.8% of revenue from 15.9% a year ago. Thus, ex-TAC revenue growth (+23%) trailed total revenue growth (+32%).
- Text-based ad revenue on Yandex sites (search-driven, 71% of total revenue) +27% to RUR8.56B. Text-based ad network revenue +92% to RUR2.71B; display ads on Yandex sites -16% to RUR674M; display ad network sales up nearly 6x to RUR101M.
- Search query volume +21% Y/Y. Paid clicks +36%, cost per click +1%. Total advertisers +25% to over 295K. Yandex's Q2 Russian search share was estimated by LiveInternet to be at 61.6%.
- R&D spend rose to 17.1% of revenue from 15% a year ago. SG&A spend fell to 15.7% from 16.6%. $106.3M was spent on stock repurchases.
- Shares had sold off earlier on July on geopolitical fears.
- Q2 results, PR
Jul. 29, 2014, 6:05 AM
Apr. 24, 2014, 9:22 AM
- NXP (NXPI) expects Q2 revenue of $1.30B-$1.35B and EPS of $1.00-$1.10, largely favorable to a consensus of $1.30B and $1.02. Shares +2.5% premarket. (Q1 results, PR)
- Yandex (YNDX) expects 25%-30% 2014 ruble-based revenue growth vs. a consensus for 29% growth. Shares -0.9% premarket. (Q1 results, PR)
- Sonus (SONS) expects Q2 revenue of $73M-$75M ($33M-$35M from SBCs and diameter signaling) and EPS of $0.01 vs. a consensus of $74M and $0.01. Full-year guidance is for revenue of $300M ($168M from SBCs and diameter signaling) and EPS of $0.05 vs. a consensus of $301.8M and $0.05. Shares +2.9% premarket. (Q1 results, PR)
- Logitech (LOGI) is reiterating FY15 (ends March '15) guidance for revenue of $2.16B and op. income of $145M. The revenue forecast is below a $2.17B consensus. Shares -2.9% premarket. (FQ4 results, PR)
Apr. 24, 2014, 6:08 AM
Feb. 20, 2014, 9:30 AM
- Yandex (YNDX) expects 2014 ruble-based revenue growth of 25%-30%, in-line with a 28.5% consensus.
- Ad sales rose 39% Y/Y in Q4 vs. 42% in Q3. Revenue from Yandex sites (2/3 of ad revenue, search ad-driven) +30% vs. +33%. Ad network sales+94% vs. +82%, displays ads +20% vs. +35% (an apparent culprit for the revenue miss).
- Paid clicks +52% Y/Y vs. +50% in Q3. Cost per click -7%. Thanks to a higher proportion of ad network sales, traffic acquisition costs rose to 23.4% of revenue from 22% in Q3 and 16.1% a year ago.
- R&D spend rose 48% Y/Y and made up 13.7% of revenue. SG&A spend rose 19% and made up 16.4% of revenue.
- EPS was RUR10.08 ($0.31), above a $9.93 consensus. $102.9M was spent on buybacks.
- Q4 results, PR
Feb. 20, 2014, 6:04 AM| 1 Comment
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Oct. 24, 2013, 12:07 PM
- Though its Q3 results beat estimates and its full-year revenue growth is now expected to be at the high end of a prior guidance range of 34%-38% (consensus is at 36.8%), Yandex (YNDX -2.8%) is now trading lower. With shares having nearly doubled YTD, expectations were high.
- Q3 ad sales rose 42% Y/Y, faster than Q2's 35% pace. While Yandex's sites (largely relying on search ads) posted ad sales growth of 33% (down from Q2's 37%), ad network sales growth surged to 82% from Q2's 25%, and display ad sales growth rose to 35% from 31%. Ad network sales now account for 18% of ad revenue.
- The ad network growth was fueled in large part by the extension of a deal to power paid search results for Russian e-mail site Mail.ru. One downside: the growth led traffic acquisition costs to rise to 24.1% of revenue from 18.9% in Q2 and 18.8% a year ago
- Overall top-line growth was pressured by the fact online payment commissions nearly evaporated, following Yandex's decision to sell its 75% stake in the Yandex.Money payments JV.
- Paid clicks rose 50% Y/Y, while cost per click (ad prices) fell 5%. SG&A spend +49% Y/Y, R&D +42%.
Oct. 24, 2013, 6:18 AM| Comment!
Jul. 25, 2013, 6:55 AM
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