Shares of Yandex NV (NASDAQ:YNDX) ended Monday session in green amid volatile trading. The shares closed up +0.52 points or 2.56% at $20.83 with 2.67 million shares getting traded. Post opening the session at $20.43, the shares hit an intraday low of $20.43 and an intraday high of $21.03 and the price vacillated in this range throughout the day. The company has a market cap of $6.19 billion and the numbers of outstanding shares have been calculated to be 274.10 million shares.
Yandex NV (YNDX) on July 28, 2016 announced its unaudited financial results for the second quarter ended June 30, 2016.
Q2 2016 Consolidated Financial Highlights
- Revenues of RUB 18.0 billion ($280.7 million), up 30% compared with Q2 2015
- Adjusted EBITDA of RUB 6.8 billion ($105.2 million), up 40% compared with Q2 2015, adjusted EBITDA margin of 37.5%
- Adjusted net income of RUB 3.9 billion ($60.8 million), up 40% compared with Q2 2015, adjusted net income margin of 21.7%
- Cash, cash equivalents, term deposits and short-term investments in debt securities of RUB 62.9 billion ($978.5 million) as of June 30, 2016
Q2 2016 Operational and Corporate Highlights
- Share of Russian search market (including mobile) averaged 57.0% in Q2 2016 compared to 57.6% in Q1 2016 (according to LiveInternet)
- Search queries in Russia grew 7% compared with Q2 2015
- Launched Zen, personalized content recommendation tool, within Yandex Browser
“We posted strong results in Q2’16 with notable contributions from our Taxi, Market, and Classifieds business units,” said Arkady Volozh, Chief Executive Officer of Yandex. “Our expertise in data analysis and AI is fueling advances in ad targeting and driving the adoption of personalized products, such as Yandex Zen, by users in Russia and abroad.”
“I am proud of our accomplishments across all the segments in Q2,” said Alexander Shulgin, Chief Operating Officer of Yandex. “Our focus on mobile resulted in significant improvements in mobile monetization, and Yandex share on Android devices started to grow again in late June as a result of new distribution deals following the favorable FAS ruling in our case against Google.”
Shares of Broadcom Ltd (NASDAQ:AVGO) ended Monday session in green amid volatile trading. The shares closed up +3.70 points or 2.30% at $164.48 with 3.57 million shares getting traded. Post opening the session at $159.13, the shares hit an intraday low of $158.75 and an intraday high of $164.75 and the price vacillated in this range throughout the day. The company has a market cap of $62.40 billion and the numbers of outstanding shares have been calculated to be 397.33 million shares.
Broadcom Ltd (AVGO) on Sept. 01, 2016 eported financial results for the third quarter of its fiscal year 2016, ended July 31, 2016, and provided guidance for the fourth quarter of its fiscal year 2016.
Broadcom Limited is the successor to Avago Technologies Limited (“Avago”). Following Avago’s acquisition of Broadcom Corporation (“BRCM”) on February 1, 2016 (the “Acquisition”), Broadcom Limited became the ultimate parent company of Avago and BRCM. Financial results for the fiscal periods prior to the Acquisition relate solely to the Company’s predecessor, Avago. Unless the context otherwise requires, references in this press release to “Broadcom,” “the Company,” “we,” “our,” “us” and similar terms are to Broadcom Limited from and after the effective time of the Acquisition and, prior to that time, to its predecessor, Avago. The financial results from businesses that have been classified as discontinued operations in the Company’s financial statements are not included in the results presented below, unless otherwise stated.
Third Quarter Fiscal Year 2016 GAAP Results
Net revenue was $3,792 million, an increase of 7 percent from $3,541 million in the previous quarter and an increase of 119 percent from $1,735 million in the same quarter last year.
Gross margin was $1,782 million, or 47.0 percent of net revenue. This compares with gross margin of $1,046 million, or 29.5 percent of net revenue, in the prior quarter, and gross margin of $884 million, or 51.0 percent of net revenue, in the same quarter last year.
Operating expenses were $2,046 million. This compares with $2,047 million in the prior quarter and $585 million for the same quarter last year.
Operating loss was $264 million, or 7 percent of net revenue. This compares with operating loss of $1,001 million, or 28 percent of net revenue, in the prior quarter, and operating income of $299 million, or 17 percent of net revenue, in the same quarter last year.
Net loss, which includes the impact of discontinued operations, was $315 million, or $0.75 per diluted share. This compares with net loss of $1,255 million, or $3.02 per diluted share, for the prior quarter, and net income of $240 million, or $0.84 per diluted share, in the same quarter last year.