Yandex says US GAAP April–June net profit rises 345 to 1 bln rbl

MOSCOW, Jul 28 (PRIME) -- The adjusted net profit of Russian Internet company Yandex grew by 34% to 1 billion rubles in April–June, as calculated under the U.S. GAAP standards, the company said on Wednesday in a statement.

Revenue increased by 70% to 81.4 billion rubles. Yandex raised the forecast for revenue in 2021 to 330–340 billion rubles from 315–330 billion rubles.

Total adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 13% to 5.8 billion rubles. The total adjusted EBITDA margin amounted to 7.1%

Advertisement revenue increased by 48% to 33.4 billion rubles excluding royalties to the partners. The taxi business revenue soared by 114% to 28.1 billion rubles

(73.8471 – U.S. $1)

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