Yandex 3Q 20 results and Conference Call Notes - Profitability beat suggests increased focus on cost control
Yandex reported a significant beat on profitability, largely coming from lower TAC, but also from other segments, like Classifieds and Taxi, suggesting rigorous cost control measures as a response to the lockdown environment. Management abstained from providing an FY 20e guidance, citing continuing uncertainty regarding the Covid-19 environment.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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