April 25, 2013 / 10:06 AM / in 6 years

Russia's Yandex raises 2013 revenue growth guidance

MOSCOW, April 25 (Reuters) - Yandex, Russia’s most popular search engine, increased its full-year 2013 revenue forecast after growth in first-quarter sales topped its previous full-year guidance.

The company expects rouble-based revenues to rise by 30-35 percent this year, it said in a Thursday statement, compared to the earlier expected 28-32 percent.

Its first-quarter revenues rose 36 percent, year-on-year, to 8 billion roubles ($253.66 million), and net profit soared 79 percent to 2.2 billion roubles.

Adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) increased 47 percent to 3.5 billion roubles, giving a 43.8 percent margin.

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