MKPAO Yandex revenue in the third quarter of 2024 increased by 36% year-on-year to 276.8 billion rubles. Adjusted net profit increased by 118% to 25.1 billion rubles, according to the company’s report.
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The group’s adjusted EBITDA increased by 66% to 54.7 billion rubles. The company maintained its forecast for 2024: revenue growth of 38-40% year-on-year and adjusted EBITDA of 170-175 billion rubles.
Revenue from the Search and Portals segment increased by 26%, reaching 113.9 billion rubles. Adjusted EBITDA for the quarter amounted to 58.4 billion rubles, up 24% year-on-year. Yandex’s total search share increased to 65.5%: Android accounted for 65.7%, iOS – 54.4%.
Adjusted EBITDA from the e-commerce, RideTech and Delivery segments amounted to 4.1 billion rubles, significantly exceeding the loss of 4.5 billion rubles in the previous year. Total revenue from these segments increased by 37% to 146.8 billion rubles.
Revenue from the Plus and Entertainment Services segment amounted to 23.7 billion rubles, an increase of 36% compared to last year. The number of Plus subscribers reached 36 million people (an increase of 40% year-on-year) and adjusted EBITDA reached 1.5 billion rubles.
The number of basic personnel during this time increased by 15%, up to 28 thousand people.
MKPAO “Yandex” is the new parent company of Yandex, its main owner is the closed mutual fund “Consortium.First”. The ticker of MKPAO “Yandex” on the Moscow Stock Exchange is YDEX. MKPAO “Yandex” became the owner of the Russian operating company “Yandex LLC” instead of the Dutch Yandex NV
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
