Yandex (YNDX) This fall Profits Pass over Estimates, Revenues Upward thrust Y/Y
This tale at the start seemed on Zacks
Yandex N.V. YNDX reported fourth-quarter 2021 adjusted income of four cents in line with proportion, lacking the Zacks Consensus Estimate by means of 76.5%.
Additional, the base line declined 82.6% 12 months over 12 months.
Revenues have been $1.5 billion. In ruble phrases, the determine stands at RUB 110.3 billion, which rose 54% on a year-over-year foundation.
The reported earnings determine contains the consolidated monetary result of Yandex.Marketplace.
Strengthening momentum around the corporate’s web advertising drove top-line enlargement. Additional, forged enlargement around the Seek, Classifieds, Taxi, Yandex Marketplace and Media Products and services segments contributed neatly.
Alternatively, the pandemic-induced supply-chain disruptions have been relating to.
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Most sensible-Line Main points
Overall web advertising revenues have been RUB 48.4 billion (43.9% of overall revenues), reflecting year-over-year enlargement of 26%.
Taxi revenues, with the exception of gross sales of products, have been RUB 32.9 billion (29.9% of overall revenues), up 86% on a year-over-year foundation, pushed by means of energy within the Yandex.Eats, ride-hailing and logistics companies.
Different revenues of RUB 11.3 billion (10.2% of overall revenues) surged 111% from the prior-year quarter.
Revenues from gross sales of products have been $17.7 billion (16% of revenues), which grew 74% from the year-ago quarter.
Segments in Element
Seek and Portal: The section generated RUB 47.9 billion revenues (43.5% of overall revenues), up 31% 12 months over 12 months. Significantly, its proportion within the Russian seek marketplace was once 60.2% within the reported quarter, which expanded 50 foundation issues (bps) 12 months over 12 months.
Significantly, cellular revenues accounted for 57.4% of the corporate’s seek revenues. Additional, cellular seek site visitors accounted for 64.4% of overall seek site visitors. This was once pushed by means of Yandex’s seek proportion on Android, which was once 59.2%, increasing 60 bps from the year-ago quarter.
Taxi: The section generated RUB 42.9 billion revenues (38.9% of revenues), emerging 93% from the year-ago quarter. The spectacular year-over-year upward push was once pushed by means of certain contributions from Yandex Lavka and Yandex Eats, which benefited its FoodTech products and services within the quarter underneath assessment.
An growth within the ride-hailing trade remained a big certain. The choice of rides larger 48% from the prior-year quarter. Cast momentum around the mobility trade was once some other certain. Moreover, expanding call for for last-mile supply products and services drove the efficiency of the logistics trade, Yandex Supply.
Classifieds: The section generated revenues of RUB 2.3 billion (2.1% of revenues), reflecting year-over-year enlargement of 27%. This was once attributed to rising revenues from auto sellers’ listings.
Media Products and services: The section generated revenues of RUB 6.5 billion (5.9% of revenues), hovering 125% from the year-ago quarter. This may essentially be attributed to the forged momentum throughout Yandex.Plus subscription. Additionally, accelerating licensing, gadgets and transactional revenues contributed neatly.
Different Trade Gadgets and Tasks: The section accounted for revenues of RUB 8.6 billion (7.8% of overall revenues), up 87% from the prior-year quarter. This was once pushed by means of the powerful efficiency of Yandex’s Zen and Gadgets companies. Additional, the rising cloud trade contributed neatly.
Yandex Marketplace: The section accounted for revenues of RUB 10.4 billion (9.5% of overall revenues) within the reported quarter, up 21% 12 months over 12 months. The continuing momentum throughout its market trade contributed neatly. Significantly, the lively purchaser quantity grew 95% 12 months over 12 months to eight.4 million. Cast enlargement of 192% on a year-over-year foundation within the e-commerce GMV remained noteworthy. The lively supplier quantity larger 214% 12 months over 12 months to 23.9 thousand. Additionally, the lively purchaser quantity surged 96% 12 months over 12 months to 9.8 million within the reported quarter.
Running Main points
In fourth-quarter 2021, the adjusted internet source of revenue margin was once 2.4%, contracting 580 bps from the year-ago quarter.
Running bills have been RUB 60.5 billion, which was once up 68% from the prior-year quarter. As a share of revenues, the determine expanded 450 bps 12 months over 12 months.
The corporate incurred a lack of RUB 2.6 billion from operations when compared with RUB 4.1 billion of running source of revenue.
The corporate’s overall site visitors acquisition prices amounted to RUB 7.2 billion, up 21% on a year-over-year foundation. As a share of revenues, the determine shriveled 180 bps 12 months over 12 months to six.5% within the reported quarter.
Stability Sheet & Money Flows
As of Dec 31, 2021, money and money equivalents have been $1.07 billion, down from $1.12 billion as of Sep 30, 2021.
Accounts receivable totaled $586.4 million, expanding from $441.3 million within the earlier quarter.
Within the fourth quarter, the corporate generated $45.8 million of money from operations when compared with $30.3 of money utilized in operations within the prior quarter.
The corporate repurchased 645,191 Elegance A stocks within the reported quarter for a complete attention of $50.1 million.
2022 Steerage
For 2022, the corporate expects overall revenues of RUB 490-RUB 500 billion.
It anticipates Seek & Portal revenues to develop within the mid-to-high teenagers from that reported in 2021.
Yandex tasks mobility GMV at RUB 700-RUB 720 billion. The corporate’s e-commerce GMV is predicted to double from that reported in 2021.
Zacks Rank & Shares to Imagine
These days, Yandex has a Zacks Rank #4 (Promote).
Different better-ranked shares within the broader era sector are Broadcom AVGO, Intuit INTU and Zscaler ZS, each and every recently sporting a Zacks Rank #2 (Purchase). You’ll be able to see the whole checklist of as of late’s Zacks #1 Rank (Robust Purchase) shares right here.
Broadcom is scheduled to liberate first-quarter fiscal 2022 effects on Mar 3. It has received 24.9% over a 12 months. The long-term income enlargement price for AVGO is recently projected at 14.5%.
Intuit is slated to record second-quarter fiscal 2022 effects on Feb 24. It has received 26.9% over a 12 months. The long-term income enlargement price for INTU is recently projected at 15.7%.
Zscaler is slated to record second-quarter fiscal 2022 effects on Feb 24. It has received 27.2% over a 12 months. The long-term income enlargement price for ZS is recently projected at 37.1%.
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