Yandex US GAAP net income shrinks 83% to 7.7 bln rbl in Jul–Sep

MOSCOW, Oct 27 (PRIME) -- The net income of Internet company Yandex decreased 83% on the year to 7.681 billion rubles in July–September, as calculated under the U.S. GAAP results, the company said on Friday in a statement.

The adjusted net income fell 33% to 3.366 billion rubles.

Revenue increased 54% to 204.769 billion rubles.

Total adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 33% to 26.528 billion rubles. The total adjusted EBITDA margin fell 2 percentage points to 13%.

The company said its cash and cash equivalents amounted to 85.4 billion rubles as of September 30.

“Given that uncertainty concerning future geopolitical developments and the macro environment remains high, our visibility over the short- and medium-term is limited and we remain unable to provide any forward-looking expectations at this stage. We aim to remain transparent about the current performance and key trends across our businesses,” the company said.

(93.5616 rubles – U.S. $1)

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