Yandex Announces Financial Results for Q1 2024

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Yandex has released its unaudited financial results for the first quarter of 2024, showcasing significant growth across various segments.

Key Financial Highlights

  • Revenue: Increased by 40% year-on-year to 228.3 billion rubles.
  • Net Profit: Adjusted net profit surged 2.6 times, reaching 21.6 billion rubles.
  • EBITDA: Adjusted EBITDA doubled to 37.6 billion rubles.
  • Workforce: Expanded by 20% to 25,900 employees.

Segment Performance

  • Search and Portal: Revenue grew by 38% to 93.6 billion rubles, with Yandex holding a 64.5% market share in Russia.
  • E-commerce: Gross merchandise volume increased by 42% to 199 billion rubles.
  • Devices and Alice: Revenue rose by 38% to 8.4 billion rubles, with 10.7 million Alice-enabled devices sold since 2018.

These results underscore Yandex’s robust growth and strategic advancements across its various business units.

Dan Taylor
Dan Taylor is an experienced SEO consultant and has worked with brands and companies on optimizing for Russia (and Yandex) for a number of years. Winner of the inaugural 2018 TechSEO Boost competition, webmaster at and Sloth.Cloud, and founder of