Yandex rose $460 million in the financial statements for 2016

Quotes for Yandex N. V. on the opening of trading on NASDAQ on Thursday, February 16, rose 6.5% to $of 24.65 per share, after the publication of an Internet holding company financial results for the fourth quarter and 2016. The capitalization of the company increased by approximately $460 million, to $7.9 billion

At the time of delivery of the text of the paper, Yandex is trading at $24,55 per share that by 6.09% above the closing price of the previous day.

According to senior analyst of Raiffeisenbank Sergei Libin, investors were impressed by the revenue of Yandex, which was above expectations. “For Internet companies in the most important growth, not profit, and that it responded so well to the market,” he said.

By the end of 2016 revenue Yandex 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%). The net profit of the company decreased by 30% to RUB 6.8 billion, However, adjusted net profit (excluding currency factors) increased in comparison with the year 2015 by 16% to RUB 14.1 billion.

The analyst “URALSIB” Konstantin Belov agreed that a good reaction of the market to be motivated by the revenue growth.

“The results were better than analysts had expected, and significantly by 5-6%. This gave some optimism to investors,” he said. At the same time, the profit rate, in particular EBITDA was lower than expected. “Yandex is necessary to maintain profitability, it is still good, but not like earlier. But the market wanted to see the positive, and he saw it in the results,” — says Belov.

In addition, he pointed out that the company is focused on the domestic market, so she wins by strengthening of the ruble and the Russian economy as a whole.

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