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Yandex (NASDAQ and MOEX:YNDX) founder and CEO Arkady Volozh has extended his lock-up agreement on Class B shares for two more years, ending December 31, 2023. This extension, in place since December 2019, ensures that Arkady and his family trust, holding approximately 30.8 million shares, will not sell or transfer these shares during this period. Volozh emphasizes this decision aims to provide market clarity and continuity for Yandex as the company focuses on enhancing core businesses and investing in e-commerce, self-driving technology, and cloud services.
Yandex (NASDAQ: YNDX) reported its Q3 2021 financial results, showcasing a 52% year-over-year increase in total revenues to RUB 91,305 million. Online advertising revenues rose 27% to RUB 42,605 million, but adjusted EBITDA plummeted 62% to RUB 5,622 million. The company experienced a net loss of RUB 3,908 million, compared to a net income of RUB 21,688 million in Q3 2020. Despite these challenges, Yandex increased its revenue outlook for the full year 2021 to between RUB 340 billion and RUB 350 billion.
Yandex (NASDAQ:YNDX) has announced it will report its financial results for the third quarter of 2021 on October 27, 2021. Management will host a conference call at 8:00 a.m. ET to discuss these results. Investors can access the call via a recommended webcast or dial in using provided numbers from the US, UK, and Russia. A replay of the webcast will be available on the Yandex Investor Relations website shortly after the call.
Yandex has entered into a $1 billion agreement with Uber to acquire full ownership of its food delivery services, Yandex Eats, Yandex Lavka, and Yandex Delivery, alongside an 18.2% stake in Yandex's Self-Driving Group. This deal increases Yandex's control in mobility-focused MLU to about 71%, with a two-year option to acquire Uber's remaining stake for up to $2 billion. The restructuring aims to boost strategic flexibility and growth potential. The transaction is expected to close in two stages by the end of 2021 and has been approved by both boards of directors.
Yandex (NASDAQ:YNDX) reported strong Q2 2021 results, with total revenues of RUB 81.4 billion, up 70% YoY. Online ad revenues increased 47% to RUB 39.6 billion, and ride-hailing GMV surged 161% to RUB 134.9 billion. Despite these gains, the company posted a net loss of RUB 4.7 billion, attributed to significant investments and consolidation of Yandex.Market. Adjusted net income rose to RUB 1.0 billion, a decline of 47% YoY. Looking ahead, revenue guidance for 2021 is between RUB 330-340 billion, reflecting strong growth expectations across segments.
Yandex (NASDAQ and MOEX:YNDX) will report its financial results for the quarter ended June 30, 2021 on July 28, 2021. A conference call and webcast will take place at 8:00 a.m. U.S. Eastern Time to discuss these results. Investors can participate via the webcast or call in using the provided numbers.
Yandex is a technology firm that specializes in machine learning products and services for navigating online and offline worlds.
Yandex Self-Driving Group has announced a multi-year partnership with Grubhub to enhance food delivery capabilities on college campuses across the U.S. The collaboration will introduce autonomous delivery robots to facilitate faster and more cost-effective deliveries in areas difficult for traditional vehicles to reach.
Yandex's delivery robots are already operational in Russia and parts of Michigan, with plans to expand further. This move positions Yandex as a key player in the autonomous delivery market and aims to better serve the unique dining needs of students.
On June 28, 2021, Yandex N.V. (NASDAQ:YNDX) announced the approval of all resolutions from its 2021 Annual General Meeting (AGM) of Shareholders. The AGM confirmed re-appointments of John Boynton, Esther Dyson, and Ilya Strebulaev as non-executive directors for four-year terms. Alexander Moldovan was also appointed to the Board. Key proposals included the legal merger of Yandex N.V. and Yandex.Market B.V. with 242,562,405 votes in favor, and other financial approvals. Notably, the Board was authorized to issue up to 20% additional Class A shares and repurchase shares up to 20% of issued capital.
Yandex (NASDAQ: YNDX), a leading internet company in Europe, announced key leadership appointments effective June 1. Svetlana Demyashkevich, previously CFO of X5 Retail Group, takes over as CFO, while Vadim Marchuk is appointed COO, focusing on strategic initiatives and growth areas like FinTech. Pavel Vlasov from Avito joins as VP of Corporate Development. The leadership change aims to enhance financial management and streamline operations amidst Yandex's growth strategy.
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