Yandex N.V. (YNDX) reported Q1 FY 2018 earnings of RUB11.96 per share (versus RUB11.41 in Q1 FY 2017), missing analysts' consensus estimate of RUB12.02.

The company's quarterly revenues amounted to RUB26.573 bln (+28.7% y/y), beating analysts' consensus estimate of RUB26.193 bln.

The company also raised its FY 2018 outlook. It expects now its revenue to grow in the range of 28% to 32% y/y this year, up from its prior forecast of +25-30% y/y.

YNDX rose to $34.00 (+1.37%) in pre-market trading.