October 24, 2017 / 10:19 AM / a month ago

Russia's Yandex Q3 adjusted net profit down 37 pct to 2.4 bln rbls, y/y

MOSCOW, Oct 24 (Reuters) - Russia’s biggest search engine Yandex said on Tuesday its adjusted net profit fell by 37 percent in the third quarter of 2017 to 2.4 billion roubles ($41.75 million), year-on-year.

Net profit was down 65 percent to 0.9 billion roubles in the same period, it said. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were down 17 percent to 5.7 billion roubles.

Consolidated revenue was up 21 percent to 23.4 billion roubles compared to the third quarter of the last year. Yandex said it increased its revenue growth guidance for 2017 to 22-23 percent from 18-21 percent expected earlier.

$1 = 57.4875 roubles Reporting by Anastasia Teterevleva; writing by Katya Golubkova; editing by Dmitry Solovyov

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