Yandex has released its unaudited financial results for the first quarter of 2024, showcasing significant growth across various segments.
Key Financial Highlights
- Revenue: Increased by 40% year-on-year to 228.3 billion rubles.
- Net Profit: Adjusted net profit surged 2.6 times, reaching 21.6 billion rubles.
- EBITDA: Adjusted EBITDA doubled to 37.6 billion rubles.
- Workforce: Expanded by 20% to 25,900 employees.
Segment Performance
- Search and Portal: Revenue grew by 38% to 93.6 billion rubles, with Yandex holding a 64.5% market share in Russia.
- E-commerce: Gross merchandise volume increased by 42% to 199 billion rubles.
- Devices and Alice: Revenue rose by 38% to 8.4 billion rubles, with 10.7 million Alice-enabled devices sold since 2018.
These results underscore Yandex’s robust growth and strategic advancements across its various business units.