Yandex increased its quarterly revenue by 1.5 times

The Yandex company, which owns the similar name search engine and other services, completed October-December last year with revenue of 110.3 billion rubles. Relative to the equal term of the former year, its volume increased by 54%. At the same time, adjusted EBITDA of 9.7 billion rubles showed an annual decline of 29%. Nevertheless, this figure exceeded the expectations of economists at 7.8 billion rubles. The volume of revenue, which did not include income from advertising impressions, jumped by 56% in the reporting period. A decrease of 55% over the year was shown by the adjusted net profit, recorded in the amount of 2.6 billion rubles. The financial report indicates that for the three months, the company’s costs amounted to 18.9 billion rubles. The Yandex. Plus service increased the number of subscribers by 1.8 times in annual terms, which amounted to 12 million people in Q4. Subscribers “Yandex.Zen” in the amount of 22.3 million people showed an annual increase of 10%.

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Arseny Kudrin

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