Yandex’s revenue increased by 36 percent in the third quarter
In the statement made by Yandex, it was stated that the company’s share in the internet search market in Russia increased by 2.9 percent in the third quarter, reaching 65.5 percent.
In the said period, the company’s revenue increased by 36 percent on an annual basis in the quarter, reaching 276.8 billion rubles, and it was stated that a 38 to 40 percent increase in revenue is expected for 2024.
Netherlands-based Yandex NV, Yandex’s umbrella organization, announced on February 5 that an agreement was reached to sell its assets in Russia to a consortium of Russian investors for 475 billion rubles (approximately 5.2 billion dollars).
Google, with which Yandex competes in Russia, had stopped its online advertising services due to the Ukraine war.
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