Yandex Ups Forecast
- Apr. 26 2013 00:00
- Last edited 21:27
Yandex, Russia's most popular search engine, increased its full-year 2013 revenue forecast after growth in first-quarter sales topped its previous full-year guidance.
The company expects ruble-based revenues to rise by 30-35 percent this year, it said in a Thursday statement, compared to the earlier expected 28-32 percent.
Its first-quarter revenues rose 36 percent, year-on-year, to 8 billion rubles ($253.66 million), and net profit soared 79 percent to 2.2 billion rubles.
Adjusted earnings before interest, taxation, depreciation and amortization (EBITDA) increased 47 percent to 3.5 billion rubles, giving a 43.8 percent margin.