Revenue of “Yandex” in the I quarter increased by 54%
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In the first quarter of 2023, Yandex’s revenue increased by 54% compared to the same period in 2022 and amounted to 163.3 billion rubles. This was reported by the press service of the company.
Adjusted EBITDA was RUB 12.8 billion and adjusted net income was RUB 2.6 billion. Adjusted EBITDA margin of 7.8%. Year on year, the number of employees increased by 19% to 22,700 people.
Revenue of the Search and Portal segment increased by 54% compared to 2022 to RUB 67.5 billion. The total search share of Yandex in Q1 2023 was 63.3%, up 2.3 p.p. yoy. The share of requests from mobile devices is 67.9%.
The growth dynamics of the Devices and Alice group is also noted. Since its launch in 2018, the company has sold more than 6 million voice assistant devices. The number of active users of Alisa per month is 55 million people. Revenue in the first quarter of 2023 amounted to RUB 6.1 billion, up 172% compared to the same period in 2022.
Revenue growth was shown by the Plus and Entertainment Services segment. In the first three months of 2023, it amounted to 13.4 billion rubles, an increase of 129% compared to the same period a year earlier. The company noticed that the number of Plus subscribers reached 22.1 million (+ 77%). In addition, the number of Kinopoisk viewers increased by 65% to 9.6 million.
The turnover of the e-commerce segment at the end of the quarter reached 108 billion rubles. The number of orders forYandex.Markete, however, grew by 116% year-on-year. The e-commerce segment, in addition to the “Market”, includes “Yandex.Eda, Delivery Club and Yandex.Lavka. The turnover of the O2O segment, which includes Yandex.Delivery, Yandex.Food and Delivery Club, Yandex.Lavka Israel, Yandex.Zapravka, etc., grew by 71% to RUB 68.5 billion.
At the end of 2022, the total revenue of the company grew by 46% and amounted to 521.7 billion rubles, adjusted net profit – 10.8 billion rubles.
In September 2022 Yandex closed a deal to sell the Zen recommendation platform and the Novosti aggregator and purchase the Delivery Club food delivery service. Media assets were transferred to VK. The amount of the transaction was not specified.
At the same time, the corporation is expanding its presence in international markets. In September 2022 Yandex in test mode launched taxi service Yango in Dubai. In February 2022, Yandex entered the UAE market with a service for planning delivery routes, Yandex.Routing. In addition, in March of this year, the company launched Yandex.Food in Uzbekistan. Now the service operates in five CIS countries.
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