By Olga Razumovskaya
MOSCOW--Russian internet company Mail.Ru Group (MAIL.LN) said
Thursday its first-quarter revenue rose 7.3% on year to 9.43
billion rubles ($181.8 million), as international initiatives under
the my.com brand partially offset challenging economic conditions
in Russia.
Mail.Ru reiterated its full-year 2015 revenue growth guidance at
7%-12%. It also forecast earnings before interest, taxes,
depreciation and amortization, or Ebitda, margins in 2015 to be
between 46% and 47%.
"While we see no near term change to the underlying environment
in Russia international initiatives under the my.com brand are
going well, and we continue to see a number of opportunities both
in VKontakte, and in our games business," Chief Executive Dmitry
Grishin said in a statement.
Mr. Grishin said the company continues its international
expansion and remains "encouraged" by myMail, which continued to
gain traction in the first quarter. He added the U.S. is the
largest market followed by the U.K., France, Germany and Brazil.
"We will look to leverage the myMail user base through the
international release of games later this year," he also said.
Write to Olga Razumovskaya at Olga.Razumovskaya@wsj.com
