Yandex expected to report 28% revenue growth
Yandex (YNDX) is scheduled to report its results for the first quarter of 2019 on April 25. In the first quarter of 2018, Yandex’s revenue rose 29% YoY (year-over-year) to $464 million. The company made a profit of $32.3 million in the quarter, translating to EPS of $0.12.
Yandex didn’t provide performance guidance for the first quarter of 2019, but Wall Street expects the company to report revenue of $594 million, an increase of 28% YoY.
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Fastest-growing major search engine company
In the fourth quarter of 2018, the most recently reported period, Yandex reported revenue growth of 39% YoY to $559.1 million supported by a gain in its core advertising business. In addition to advertising, Yandex is also in the cloud computing, taxi, e-commerce, and digital payment businesses.
With its revenue rising 39% YoY in the fourth quarter, Yandex emerged as the fastest-growing company among its major Internet search engine peers and some e-commerce giants in the period. Baidu (BIDU), the leading Internet search engine provider in China, recorded revenue growth of 22% YoY in the quarter.
Yandex made a profit of $85.1 million in the fourth quarter, an increase of 69% YoY.