New Street: YNDX US (Buy, TP: US$81, +17%) Yandex Q221 Quick Take: Guidance upgraded once again. Strong performance
Once again, Yandex management have increased revenue guidance on the back of a strong acceleration in revenue growth from +56% in Q1 to +97% in Q2. Most importantly, the focus continues to be on the successes within the e-commerce businesses.Yandex is an internet and technology company that operates an internet search engine in Russia. Co. builds intelligent products and services powered by machine learning. Co.'s products and services are based on complex, unique technologies that are not easily replicated. Co. generates substantially all of its revenues from online advertising. Co. also generates revenues from its e-commerce offerings, classifieds and e-hailing service. Co.'s businesses are organized in the following operating segments: Search and Portal; E-commerce; Taxi; Classifieds and Experimental businesses.
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