UNITED STATES (OBSERVATORY NEWS) — Yandex consolidated revenue in the fourth quarter of 2019 increased by 33% in annual comparison and amounted to 51.7 billion rubles (835.1 million US dollars). Consolidated revenue, excluding Yandex.Market, grew by 39% compared to the previous year and amounted to 175.4 billion rubles.
Net profit decreased by 95% compared to the same period in the fourth quarter of 2018 and amounted to 0.3 billion rubles (4.5 million US dollars). Net profit margin – 0.5%. Adjusted net income (adjusted net income) amounted to 5.4 billion rubles (87.2 million US dollars) and decreased by 22% compared to the same period in the fourth quarter of 2018.
Consolidated revenue for the fiscal year 2019 increased by 37% and amounted to 175.4 billion rubles ($ 2833.2 million). Revenue, excluding Yandex.Market, grew by 39%. Net profit amounted to 11.2 billion rubles (180.9 million US dollars) and decreased by 75% compared to 2018. Adjusted net income amounted to 23.5 billion rubles (380.3 million US dollars) and increased by 6% compared to 2018.
Revenue from online advertising, which includes sales of contextual and display advertising on Yandex sites and advertising network sites, grew by 16% and amounted to 66% of the company’s total revenue in the fourth quarter of 2019.
The Taxi segment (this includes Yandex.Taxi and Uber in Russia and the near abroad, the food technology direction of Yandex.Food, the delivery service for cooking sets Yandex. Chef and the hyperlocal product delivery service Yandex.Lavka, as well as the development of unmanned vehicles) received revenue in the amount of 38 billion rubles, which is 98% higher than in 2018. The quarterly revenue of the segment increased by 71% compared to the same period in the fourth quarter of 2018 and amounted to 23% in the structure of the total revenue of the company, while in the fourth quarter of last year it amounted to 18%.
Yandex notes that the growth was due to the high rates of taxi service, Yandex.Taxi for business and food technology.
Yandex.Music has increased the number of subscribers to 3.1 million at the end of December 2019. The voice assistant Alice brought the company revenue of 1.5 billion rubles. This includes revenue from the sale of Yandex.Station, Yandex.Station Mini’s own devices, as well as partner columns Elari SmartBeat, Irbis A, Dexp Smartbox and others.
Other income in the fourth quarter of 2019 increased by 127% compared to the same period in the fourth quarter of 2018 and amounted to 11% of the company’s total revenue. The growth of other incomes is mainly connected with the growth of Yandex.Drive service revenue, the growth of Media services revenue from subscription sales, as well as with the projects of the Internet of Things (IoT).
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