Russia's Yandex reports Q3 revenue rises by 36%
The logo of Russian technology giant Yandex is on display at the company's headquarters in Moscow, Russia December 9, 2022. REUTERS/Evgenia Novozhenina/ File Photo
MOSCOW : Russian internet giant Yandex reported a 36 per cent rise in first-quarter revenue to 276.8 billion roubles ($2.85 billion), driven by growth in e-commerce and its search and portal business.
Adjusted net profit for the quarter jumped by 118 per cent to 25.1 billion roubles, while adjusted earnings before interest, tax, depreciation and amortisation, reached 54.7 billion roubles.
A Russian consortium of buyers in July finalised a $5.4 billion cash and shares deal to acquire Yandex's Russia-based assets, which had been held through Nasdaq-listed Dutch parent Yandex NV, the largest corporate exit since Russia's invasion of Ukraine in February 2022, albeit at a hefty discount.
($1 = 97.1500 roubles)
