Yandex swings to US GAAP net profit of 5.8 bln rbl in Jan–Mar

MOSCOW, Apr 27 (PRIME) -- Internet company Yandex posted a net income of 5.785 billion rubles in January–March after a net loss of 13.037 billion rubles a year earlier, as calculated under the U.S. GAAP standards, the company said on Thursday in a statement.

Revenue jumped by 54% to 163.275 billion rubles.

Total adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) spiked to 12.794 billion rubles from 1.271 billion rubles. The total adjusted EBITDA margin added 6.6 percentage points to 7.8%.

“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,” Yandex said.

(81.6274 rubles – U.S. $1)

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