July 29, 2014 / 11:11 AM / 3 years ago

UPDATE 1-Russia's Yandex Q2 earnings fall 18 pct on forex loss

* Net profit down 18 pct yr/yr to 2.4 bln roubles

* Revenue rises 32 pct to 12.2 bln roubles

* Confirms full-year sales growth guidance (Adds details, share price move)

MOSCOW, July 29 (Reuters) - Russia's biggest search engine Yandex said on Tuesday its earnings fell 18 percent in the second quarter, year on year, due to a weaker rouble but it reiterated its revenue outlook for the full-year 2014.

Net profit fell to 2.4 billion roubles ($67 million) from 2.9 billion a year ago as Yandex recorded a 625 million rouble loss stemming from the revaluation of its U.S. dollar-denominated monetary assets and debt, it said in a statement.

Adjusted net income rose 9 percent to 3.3 billion roubles, while adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) rose 17 percent to 5.0 billion.

The EBITDA margin slid to 41.3 percent from 46.8 percent the year earlier, hit by the company's revenue-driving contract with rival Mail.Ru under which Yandex shares advertising profits with Mail.Ru in exchange for giving Yandex's advertisers access to Mail.Ru's users.

Revenue grew 32 percent to 12.2 billion roubles, driven by text-based advertising. In the second quarter, its 61.6 percent market share in Internet search far exceeded the 28.3 percent held by global market leader Google.

On a like-for-like basis, excluding the impact of electronic money solutions unit Yandex.Money on its year-ago results, revenue was up 35 percent. Yandex sold 75 percent of Yandex.Money to Sberbank and stopped consolidating its financial results in the third quarter of 2013.

The company confirmed its full-year forecast for like-for-like sales growth of 25-30 percent. It also said that after repurchasing 15 million shares it had 47.3 billion roubles or $1.4 billion of cash as of end-June.

Moscow-traded shares in Yandex were up around 2 percent by 1010 GMT, outperforming the broad market index which was up 0.6 percent.

$1 = 35.6990 Russian Roubles Reporting by Maria Kiselyova; Editing by Lidia Kelly and David Evans

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