Net profit of “Yandex” for the year 2016 have fallen by 30%

By the end of 2016 year net profit of Yandex N. V. (which owns the eponymous search engine, 100% of the resource “Kinopoisk”, 25% of the payment system “Yandex.Money”, etc.) declined by 30% and amounted to 6.8 billion rubles, stated in received by RBC.

“The main currency in which “Yandex” earns income and spends money is the ruble, while the company has assets in other money equivalent: in case of strengthening of the Russian currency rouble estimation of these assets is reduced. More correct to assess the condition of the business of “Yandex” is the indicator of adjusted net profit cleared of the currency factor”, — explained the press-Secretary Asya Melkumova. Adjusted net profit the Internet-holding increased in comparison with the year 2015 by 16% to RUB 14.1 billion.

Net profit of Yandex for the fourth quarter of 2016 fell by 57% to RUB 1.2 billion While adjusted net profit also decreased by 11%, to 3.2 billion rubles As explained by the representative of Yandex, the rate impact of the company’s investment in the promotion of key services, mainly “Yandex.Taxi”.

Yandex revenue by the end of 2016 increased by 27% and amounted to 75.9 billion roubles. Among the main sources of revenue of the company was “search portal” (it had 91% of the index), e-Commerce (6.2 percent) and taxi (3%).

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