(Reuters) -Russian internet giant Yandex bounced back from a first-quarter net loss to report a 34% year-on-year rise in second-quarter adjusted net profit to 30.4 billion roubles ($374.61 million), the company said on Tuesday. Following a lengthy split from its Nasdaq-listed Dutch parent company in 2024, Yandex, which had always prioritised growth over dividends, announced […]
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Russia’s Yandex rebounds from loss to post Q2 profit growth
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(Reuters) -Russian internet giant Yandex bounced back from a first-quarter net loss to report a 34% year-on-year rise in second-quarter adjusted net profit to 30.4 billion roubles ($374.61 million), the company said on Tuesday.
Following a lengthy split from its Nasdaq-listed Dutch parent company in 2024, Yandex, which had always prioritised growth over dividends, announced a year ago that it would pay dividends for the first time.
It paid a dividend of 80 roubles per share on half-year and full-year results in 2024 and the board will again consider an 80-rouble-per-share dividend for the first half of 2025 on July 31, Yandex said.
Revenue increased by 33% year-on-year to 332.5 billion roubles, driven by growth in Yandex’s e-commerce division and its fintech services, Yandex said.
Adjusted earnings before interest, tax, depreciation and amortisation, were up by 39% to 66 billion roubles.
A Russian consortium of buyers in July 2024 finalised a $5.4 billion cash-and-shares deal to acquire Yandex’s Russia-based assets, the largest corporate deal since the start of Russia’s war in Ukraine in February 2022.
Yandex maintained its forecast for total revenue growth in 2025 of more than 30% and adjusted EBITDA of 250 billion roubles.
($1 = 81.1500 roubles)
(Reporting by Gleb Stolyarov and Alexander Marrow;Editing by Andrew Osborn)