YNDX: Yandex Falls on Slowing Revenue Growth

by Christopher Freeburn | February 20, 2014 10:56 am

YNDX: Yandex Falls on Slowing Revenue Growth

YANDEX YNDX: Yandex Falls on Slowing Revenue Growth[1]On Thursday, Yandex (YNDX[2]) forecast lower revenue growth this year compared to last[3], sending YNDX stock slumping more than 7% in morning trading.

YNDX stock fell after the Russian search engine projected that its 2014 revenue would climb between 25% and 30% this year. In 2013, YNDX said that adjusted revenue grew 39% over the prior year, Reuters notes.

Last year, Yandex recorded a profit of 13.5 Russian roubles ($378.1 million) on total revenue of 39.5 billion Russian roubles.

In Russia, YNDX dominates search engine traffic, capturing 60% of search engine activity in the country[4]. YNDX derives most of its revenue from text ads distributed on YNDX websites.

On Wednesday, YNDX stock closed at $39.83 per share. Yandex stock has gained more than 65% over the past year.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/07/YANDEX.jpg
  2. YNDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=YNDX
  3. lower revenue growth this year compared to last: http://www.reuters.com/article/2014/02/20/russia-yandex-idUSL6N0LP2R820140220
  4. capturing 60% of search engine activity in the country: http://investorplace.com/247trader/yandex-yndx-because-russians-search-the-internet-too/#.UwYloXlhOf0

Source URL: http://investorplace.com/2014/02/yndx-yandex-falls-slowing-revenue-growth/
Short URL: http://invstplc.com/1l1Mfgl