Yandex NV (YNDX) Witnesses 18% Growth In Paid Clicks In 4Q
Yandex NV (NASDAQ:YNDX) said that it witnessed 18% uptick in paid clicks on its, as well as, its partners websites during the fourth quarter. The company said that it illustrated a steady growth pace over the third quarter, as well as, the previous year’s fourth quarter. In comparison, its average cost per click advanced 3% in the December quarter.
Yandex NV (NASDAQ:YNDX)’s display advertising revenue, which represented 8% of its total revenues in the December quarter, recorded 3% uptick from the 2013-fourth quarter fueled by its display advertising network. Its share of Russian search market averaged 59.7% in the fourth quarter based on LiveInternet data.
The company earned a profit of RUR 7.6 billion or $134.6 million in the fourth quarter representing 126% uptick over the year-ago quarter period. Similarly, its earnings more than doubled to RUR 23.44 a share from RUR 10.08 a share in the prior year quarter. In terms of US currency, the latest quarter earnings were 42 cents a share.
Yandex NV (NASDAQ:YNDX)’s revenue increased 21.4% to RUR 14.67 billion from RUR 12.09 billion in the previous year quarter. In terms of USD, revenue was $260.7 million. The company closed the quarter with cash and cash equivalents of $313.6 million or RUR 33.39 billion.
The company indicated that its December quarter results benefited RUR 4.71 billion due to foreign currency gain compared to RUR 99 million in the same quarter last year.
Full Year Results
Yandex delivered 28.5% growth in revenue to RUR 50.77 billion from RUR 39.51 billion in 2013. Its net income jumped 26.4% to RUR 17.02 billion from RUR 13.47 billion while earnings surged 29.8% to RUR 52.27 a share from RUR 40.27 a share in the previous year. In terms of USD, the company generated revenue of $902.4 million and delivered earnings of 93 cents a share.
Moving ahead, Yandex NV (NASDAQ:YNDX) said that there was a high level of ambiguity in the macroeconomic conditions in the country. Therefore, the company restricted to offer first quarter revenue outlook only. Accordingly, it expects revenue to witness about 15% uptick in revenue.
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