Mail.Ru Group 3Q 20 results and Conference Call Notes - Decent results underpin strength of business model
Mail.Ru Group reported strong 3Q 20 results and provided a FY 20e revenue guidance close to pre-Covid levels, which, in our view, highlights the underlying business strength regardless of external shocks.Mail.Ru Group is an Internet company based in the Russian Federation. Co. operates the email service [email protected] and two IM networks in Russia - Mail.Ru Agent and ICQ. Co. operates two Russian-language online social networking sites: Moi [email protected] and Odnoklassniki.ru, and owns a strategic minority equity stake in the social network Vkontakte. Co. is also engaged in developing projects in E-commerce and operating more than 40 thematic vertical sites, targeting various user categories. Co. is also Russia's predominant online games company. Co. maintains a portfolio of online games which includes 34 MMO games and over 30 games for social networking sites.
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