This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Yandex N.V. Management Discusses Q2 2012 Results - Earnings Call Transcript

And now, I'm turning the call over to Arkady Volozh.

Arkady Volozh

Thanks, Katya. And I will start with a quarter-level overview, including a discussion of our achievements for the quarter and the competitive landscape. And then Ilya will get into more detail on products and services and Sasha will drill down into our financials. After that, we'll take your questions.

Well, first of all, we delivered another strong quarter with 50% top line growth and more than that, we expanded our profitability margins as we confirm our full year guidance of 40%, 45% year-on-year growth. And our position as the search engine leader in Russia remains unquestionable. Despite change in web browser share and evolving consumer behavior on mobile versus desktop usage, we firmly called the 60% leadership addition on the Russian market. And let me further tell you about it-- on this important point.

A year ago, Google Chrome browser was on the rise and we felt pressure. But Chrome's adoption rate slowed down at the end of 2011. At the same time, over this period we grew our share of searches in Chrome from 41% to 46%. Today, our share of searches in Chrome is even higher than those on Google. Despite the fact that Google is the default search provider in Chrome and it's not easy to change that default.

In addition to our success in Chrome, we grew our share of searches in all other major browsers including Mozilla, Opera and Internet Explorer. We made it happen by concentrating efforts, primarily on the problem. Distribution is, of course, important. But its importance sometimes is overestimated. For example, as we informed the investor and analyst community in June, [ph] as default search starting from version 14, which became available for download about 2 weeks ago. For those of you who have been watching out sales, such as -- may have noticed that over 1 of 60% of Firefox's teen users, already switched to the new version of the browser. This had a negligible impact on our shares of searches. On a related note, I'm happy to inform you that our relationship with Opera continues as before and we are looking to further extend this global world partnership.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs