In 2023, Yandex’s revenue grew by 51% – Kommersant
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In the fourth quarter of 2023, Yandex revenue (MOEX: YNDX) increased by 51% compared to the same period in 2022 and amounted to 249.6 billion rubles, follows from the financial reporting companies. At the end of last year, Yandex’s revenue reached 800.1 billion rubles, which is 53% more than in 2022. The reports also say that the board of directors of the parent Dutch company Yandex NV approved the sale of the Russian business to local management. The deal was approved unanimously.
Adjusted EBITDA in October–December reached RUB 32.9 billion. (+92% compared to the fourth quarter of 2022). Profitability for the indicator was 13.2% versus 10.4% in the fourth quarter of last year. At the end of 12 months of 2023, EBITDA increased by 51% and amounted to almost 97 billion rubles. Profitability for last year decreased to 12.1%, from 12.3% by the end of 2022.
The news is being updated.
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