Last $29.29 USD
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As of 8:10 PM 08/26/14 All times are local (Market data is delayed by at least 15 minutes).

yandex nv-a (YNDX) Key Developments

Yandex N.V. Announces Changes in the Senior Management Team

Yandex has announced changes in its senior management team. Alexander Shulgin, currently the group's Chief Financial Officer, has been appointed Chief Operating Officer of Yandex's Russian business, effective September 1, 2014. In his new role, Mr. Shulgin will be the principal executive in charge of operations of Yandex's Russian business. Greg Abovsky will be promoted to Chief Financial Officer to replace Mr. Shulgin, also effective September 1, 2014. Alexander Shulgin joined Yandex in 2010 in the position of Chief Financial Officer. Greg Abovsky joined Yandex as its Vice President of Investor Relations in January 2013 and took on the additional role of VP of Corporate Development in October 2013.

Equinox Partners Reportedly Interested In Russian Assets

Equinox Partners, L.P. is interested in Russian assets, and Sean Fieler, Chief Financial Officer of Equinox Partners, and Yevgeny Ruzhitsky, Financial Analyst, are consulting with local publically traded companies and banks, reported Vedomosti citing a person close to executive of the fund and a representative of one of the companies in negotiations. Sources said that Representatives of Sberbank (MICEX:SBER), Open Joint Stock Company - Magnit (MICEX:MGNT), Yandex N.V. (NasdaqGS:YNDX), Open Joint Stock Company Moscow Exchange MICEX-RTS (MICEX:MOEX), CTC Media, Inc (NasdaqGS:CTCM) and OJSC "Bank Saint Petersburg" (MICEX:BSPB) met Equinox.

Yandex Launches SpeechKit Cloud Service

Yandex launched the SpeechKit Cloud voice recognition service. The service will enable designers of mobile applications to add voice recognition functions to applications for handsets and browsers. The company claims that the voice recognition takes around one second. The SpeechKit Cloud service 'understands' Russian and Turkish languages, and the voice recognition is carried out in real time.

Yandex N.V. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Revenue and Capital Expenditure Guidance for 2014

YANDEX N.V. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenues of RUB 12,158 million compared with RUB 9,199 million for the same period last year. Income from operations was RUB 3,631 million compared with RUB 3,218 million for the same period last year. Net income before income taxes was RUB 3,217 million compared with RUB 3,687 million for the same period last year. Net income was RUB 2,396 million or RUB 7.37 diluted net income per Class A and Class B share compared with RUB 2,915 million or RUB 8.70 diluted net income per Class A and Class B share for the same period last year. Net cash provided by operating activities was RUB 4,021 million compared with RUB 3,995 million for the same period last year. Purchase of property and equipment was RUB 2,146 million compared with RUB 685 million for the same period last year. Adjusted EBITDA was RUB 5,027 million compared with RUB 4,303 million for the same period last year. Adjusted net income was RUB 3,318 million compared with RUB 3,058 million for the same period last year. Interest income, net in the second quarter of 2014 was RUB 203 million, down from RUB 452 million in second quarter of 2013, mainly due to interest expenses related to its convertible notes issued in December 2013 and January 2014. Net income was down 18% compared with second quarter 2013. The primary reason for negative growth rate of net income in second quarter 2014 was due to foreign exchange loss recorded on the depreciation of the U.S. dollar during second quarter 2014. CapEx was RUB 2.1 billion. For the six months, the company reported revenues of RUB 23,043 million compared with RUB 17,198 million for the same period last year. Income from operations was RUB 6,349 million compared with RUB 5,671 million for the same period last year. Net income before income taxes was RUB 6,775 million compared with RUB 6,534 million for the same period last year. Net income was RUB 5,076 million or RUB 15.51 diluted net income per Class A and Class B share compared with RUB 5,161 million or RUB 15.38 diluted net income per Class A and Class B share for the same period last year. Net cash provided by operating activities was RUB 6,622 million compared with RUB 6,625 million for the same period last year. Purchase of property and equipment was RUB 4,211 million compared with RUB 1,544 million for the same period last year. Adjusted EBITDA was RUB 9,069 million compared with RUB 7,807 million for the same period last year. Adjusted net income was RUB 5,870 million compared with RUB 5,468 million for the same period last year. On a like-for-like basis, excluding the revenue associated with Yandex. Money from 2013 results, Yandex expects to achieve full year ruble-based revenue growth of 25% to 30% in 2014. The company estimates for capital expenditures in 2014, from the range of 14% to 16% to the range of 16% to 19% of total revenues in 2014. The increase is primarily due to investments and productivity of advertising technologies and the improvement of search quality in foreign languages.

Yandex N.V. to Report Q2, 2014 Results on Jul 29, 2014

Yandex N.V. announced that they will report Q2, 2014 results on Jul 29, 2014

 

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